Mackenzie Financial Corp Lowers Position in Baidu Inc (BIDU)
Mackenzie Financial Corp lowered its position in Baidu Inc (NASDAQ:BIDU) by 13.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,927 shares of the information services provider’s stock after selling 54,112 shares during the period. Mackenzie Financial Corp owned approximately 0.10% of Baidu worth $86,426,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BIDU. Schwab Charles Investment Management Inc. grew its holdings in shares of Baidu by 17.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 11,626 shares of the information services provider’s stock worth $2,006,000 after acquiring an additional 1,747 shares during the period. Acadian Asset Management LLC acquired a new stake in Baidu during the 2nd quarter valued at $423,000. Harbour Capital Advisors LLC grew its holdings in Baidu by 17,786.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock valued at $117,000 after buying an additional 20,810 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Baidu by 10.5% during the 2nd quarter. Great West Life Assurance Co. Can now owns 131,103 shares of the information services provider’s stock valued at $23,414,000 after buying an additional 12,421 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Baidu by 7.2% during the 2nd quarter. CIBC Asset Management Inc now owns 15,300 shares of the information services provider’s stock valued at $2,737,000 after buying an additional 1,033 shares during the last quarter.
BIDU has been the topic of a number of analyst reports. Credit Suisse Group reiterated an “outperform” rating on shares of Baidu in a report on Thursday, August 31st. Jefferies Group increased their target price on Baidu from $232.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 20th. Erste Group upgraded Baidu from a “sell” rating to a “hold” rating in a report on Monday, August 21st. Macquarie reiterated a “top pick” rating on shares of Baidu in a report on Monday, August 28th. Finally, OTR Global upgraded Baidu to a “positive” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $236.36.
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Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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