Black Creek Investment Management Inc. increased its holdings in Baidu, Inc. (NASDAQ:BIDU – Free Report) by 25.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,026,064 shares of the information services provider’s stock after acquiring an additional 406,038 shares during the quarter. Baidu comprises about 9.7% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Black Creek Investment Management Inc. owned about 0.59% of Baidu worth $277,388,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of BIDU. Morgan Stanley grew its position in Baidu by 88.2% during the 4th quarter. Morgan Stanley now owns 2,631,331 shares of the information services provider’s stock valued at $300,972,000 after purchasing an additional 1,232,917 shares during the last quarter. FMR LLC grew its position in Baidu by 12,844.3% during the 1st quarter. FMR LLC now owns 955,034 shares of the information services provider’s stock valued at $144,134,000 after purchasing an additional 947,656 shares during the last quarter. Contrarius Investment Management Ltd purchased a new stake in Baidu during the 1st quarter valued at about $65,683,000. Broad Peak Investment Holdings Ltd. purchased a new stake in Baidu during the 2nd quarter valued at about $58,187,000. Finally, Hhlr Advisors LTD. purchased a new stake in shares of Baidu during the 1st quarter valued at about $61,258,000. 21.22% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Sanford C. Bernstein raised their price target on shares of Baidu from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Monday, September 25th. Mizuho reaffirmed a “buy” rating and set a $170.00 price target on shares of Baidu in a report on Wednesday, August 23rd. TheStreet downgraded shares of Baidu from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th. Loop Capital lowered their price objective on shares of Baidu from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, August 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Baidu from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, October 19th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $183.81.
Baidu Stock Up 2.6 %
Baidu stock traded up $2.85 during midday trading on Wednesday, hitting $112.39. 640,026 shares of the company’s stock were exchanged, compared to its average volume of 2,741,857. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.84 and a current ratio of 2.84. Baidu, Inc. has a 12 month low of $91.41 and a 12 month high of $160.88. The firm has a 50-day moving average of $122.63 and a two-hundred day moving average of $131.85. The company has a market cap of $38.84 billion, a PE ratio of 17.90, a P/E/G ratio of 0.29 and a beta of 0.73.
Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.
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