Havemeyer Place LP bought a new stake in Baidu, Inc. (NASDAQ:BIDU – Free Report) in the fourth quarter, HoldingsChannel reports. The firm bought 7,987 shares of the information services provider’s stock, valued at approximately $1,044,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Baidu in the fourth quarter worth $2,626,000. Yarbrough Capital LLC purchased a new position in shares of Baidu in the fourth quarter worth $1,697,000. Earnest Partners LLC raised its stake in shares of Baidu by 21.9% in the third quarter. Earnest Partners LLC now owns 818,930 shares of the information services provider’s stock worth $107,910,000 after purchasing an additional 146,992 shares during the last quarter. ARK Investment Management LLC raised its stake in shares of Baidu by 72.7% in the third quarter. ARK Investment Management LLC now owns 508,388 shares of the information services provider’s stock worth $66,990,000 after purchasing an additional 213,941 shares during the last quarter. Finally, TT International Asset Management LTD purchased a new position in shares of Baidu in the fourth quarter worth $33,727,000.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on BIDU. Weiss Ratings cut Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Susquehanna lifted their price objective on Baidu from $120.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Nomura lifted their price objective on Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Zacks Research lowered Baidu from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. Finally, Zephirin Group lifted their price objective on Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $162.58.
Baidu Stock Performance
Shares of BIDU opened at $121.66 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. Baidu, Inc. has a one year low of $83.30 and a one year high of $165.30. The firm has a market capitalization of $41.39 billion, a P/E ratio of -1,013.75, a PEG ratio of 2.08 and a beta of 0.54. The business has a fifty day moving average of $125.85 and a 200 day moving average of $129.81.
About Baidu
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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