Weiss Asset Management LP Acquires Shares of 64,000 Baidu, Inc. $BIDU

Weiss Asset Management LP acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDUFree Report) during the first quarter, HoldingsChannel.com reports. The fund acquired 64,000 shares of the information services provider’s stock, valued at approximately $7,131,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Signature Equity Partners LLC acquired a new stake in shares of Baidu in the first quarter valued at about $25,000. Binnacle Investments Inc acquired a new position in Baidu during the 2nd quarter worth approximately $29,000. Sankala Group LLC acquired a new position in Baidu during the 4th quarter worth approximately $46,000. Brown Brothers Harriman & Co. boosted its holdings in Baidu by 35.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock worth $53,000 after acquiring an additional 105 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Baidu by 25.9% in the 4th quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock worth $56,000 after acquiring an additional 88 shares during the period.

Baidu Stock Performance

Shares of BIDU opened at $105.34 on Friday. The firm has a market cap of $35.84 billion, a price-to-earnings ratio of -877.76, a PEG ratio of 2.28 and a beta of 0.56. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $118.30 and its two-hundred day moving average is $127.27. Baidu, Inc. has a 52-week low of $84.64 and a 52-week high of $165.30.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BIDU. Nomura lifted their price objective on shares of Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Susquehanna upped their target price on shares of Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Weiss Ratings lowered shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 18th. Benchmark reaffirmed a “buy” rating and set a $215.00 price target on shares of Baidu in a research note on Tuesday, May 19th. Finally, Morgan Stanley boosted their price objective on shares of Baidu from $135.00 to $140.00 in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.33.

Check Out Our Latest Stock Report on BIDU

About Baidu

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu, Inc. (NASDAQ:BIDUFree Report).

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.