Myriad Asset Management Advisors LLC Makes New Investment in Baidu, Inc. $BIDU

Myriad Asset Management Advisors LLC purchased a new position in Baidu, Inc. (NASDAQ:BIDU – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 17,556 shares of the information services provider’s stock, valued at approximately $2,294,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BIDU. Empowered Funds LLC acquired a new stake in shares of Baidu in the first quarter worth about $334,000. EverSource Wealth Advisors LLC lifted its position in shares of Baidu by 71.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $101,000 after buying an additional 493 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Baidu by 53.3% in the second quarter. Guggenheim Capital LLC now owns 9,670 shares of the information services provider’s stock worth $829,000 after buying an additional 3,362 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Baidu by 2.6% in the second quarter. First Trust Advisors LP now owns 50,033 shares of the information services provider’s stock worth $4,291,000 after buying an additional 1,259 shares during the last quarter. Finally, Flow Traders U.S. LLC acquired a new stake in shares of Baidu in the second quarter worth about $254,000.

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Baidu Trading Down 3.0%

Baidu stock opened at $117.48 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85. The business’s 50-day simple moving average is $126.51 and its 200-day simple moving average is $129.91. The firm has a market capitalization of $39.97 billion, a PE ratio of -978.92, a PEG ratio of 2.07 and a beta of 0.54. Baidu, Inc. has a 52 week low of $83.30 and a 52 week high of $165.30.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. BNP Paribas Exane assumed coverage on Baidu in a research report on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 price target for the company. Zephirin Group lifted their price objective on Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a research note on Monday, March 2nd. Nomura lifted their price objective on Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Benchmark reiterated a “buy” rating and issued a $215.00 price objective on shares of Baidu in a research note on Tuesday, May 19th. Finally, Zacks Research lowered Baidu from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. One equities research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.58.

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.

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