Contrarius Group Holdings Ltd lowered its holdings in Baidu, Inc. (NASDAQ:BIDU – Free Report) by 62.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 331,123 shares of the information services provider’s stock after selling 560,626 shares during the quarter. Baidu accounts for about 2.1% of Contrarius Group Holdings Ltd’s investment portfolio, making the stock its 15th biggest position. Contrarius Group Holdings Ltd owned about 0.10% of Baidu worth $43,265,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BIDU. Schroder Investment Management Group bought a new stake in Baidu in the third quarter valued at about $165,334,000. RPD Fund Management LLC raised its holdings in shares of Baidu by 161.6% in the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock worth $107,959,000 after buying an additional 777,570 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Baidu by 106.7% in the 3rd quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock worth $148,804,000 after buying an additional 582,832 shares in the last quarter. Steadfast Capital Management LP acquired a new position in shares of Baidu in the 3rd quarter worth approximately $59,966,000. Finally, DNB Asset Management AS raised its holdings in shares of Baidu by 6,832.9% in the 4th quarter. DNB Asset Management AS now owns 452,579 shares of the information services provider’s stock worth $59,134,000 after buying an additional 446,051 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on BIDU. Barclays dropped their target price on Baidu from $147.00 to $128.00 and set an “equal weight” rating for the company in a report on Thursday, March 5th. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a report on Monday, May 25th. Nomura lifted their price objective on Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. BNP Paribas Exane began coverage on Baidu in a report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 price objective for the company. Finally, Weiss Ratings lowered shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.58.
Baidu Price Performance
NASDAQ BIDU opened at $121.66 on Monday. Baidu, Inc. has a one year low of $83.30 and a one year high of $165.30. The firm has a market cap of $41.39 billion, a PE ratio of -1,013.75, a price-to-earnings-growth ratio of 2.08 and a beta of 0.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. The stock’s 50 day simple moving average is $125.85 and its 200 day simple moving average is $129.81.
Baidu Company 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.
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