Silphium Asset Management Ltd Cuts Stake in Baidu, Inc. $BIDU

Silphium Asset Management Ltd lowered its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 30.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,500 shares of the information services provider’s stock after selling 5,530 shares during the period. Silphium Asset Management Ltd’s holdings in Baidu were worth $1,647,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Binnacle Investments Inc purchased a new stake in Baidu during the second quarter valued at about $29,000. Winthrop Capital Management LLC bought a new stake in shares of Baidu in the 2nd quarter valued at about $39,000. Mizuho Securities Co. Ltd. purchased a new stake in Baidu during the 2nd quarter valued at about $43,000. UMB Bank n.a. boosted its holdings in Baidu by 65.0% during the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 134 shares during the period. Finally, Assetmark Inc. grew its position in Baidu by 127.6% during the 2nd quarter. Assetmark Inc. now owns 742 shares of the information services provider’s stock worth $64,000 after acquiring an additional 416 shares during the last quarter.

Baidu Stock Down 3.0%

Shares of NASDAQ BIDU opened at $148.57 on Tuesday. The firm has a fifty day simple moving average of $135.80 and a two-hundred day simple moving average of $119.99. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $165.30. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $51.32 billion, a PE ratio of 49.36 and a beta of 0.30.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Baidu from $154.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Daiwa Capital Markets set a $160.00 price target on shares of Baidu and gave the company a “buy” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Baidu in a report on Monday, December 29th. Jefferies Financial Group boosted their price objective on shares of Baidu from $159.00 to $181.00 and gave the company a “buy” rating in a research report on Friday, January 2nd. Finally, Nomura increased their target price on shares of Baidu from $178.00 to $196.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Baidu has a consensus rating of “Moderate Buy” and a consensus target price of $155.78.

Baidu Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.