Pzena Investment Management LLC Decreases Stock Position in Baidu, Inc. $BIDU

Pzena Investment Management LLC cut its holdings in Baidu, Inc. (NASDAQ:BIDU) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,435 shares of the information services provider’s stock after selling 172 shares during the period. Pzena Investment Management LLC’s holdings in Baidu were worth $23,707,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Meritage Portfolio Management purchased a new stake in shares of Baidu in the 2nd quarter worth about $13,081,000. Blue Trust Inc. boosted its position in shares of Baidu by 35.9% in the 2nd quarter. Blue Trust Inc. now owns 4,293 shares of the information services provider’s stock worth $368,000 after buying an additional 1,134 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Baidu by 3.6% in the 2nd quarter. Blair William & Co. IL now owns 31,442 shares of the information services provider’s stock worth $2,696,000 after buying an additional 1,083 shares in the last quarter. Mainstay Capital Management LLC ADV acquired a new position in Baidu in the 2nd quarter valued at about $253,000. Finally, Fluent Financial LLC raised its stake in Baidu by 16.2% in the 2nd quarter. Fluent Financial LLC now owns 23,606 shares of the information services provider’s stock valued at $2,024,000 after purchasing an additional 3,286 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. CLSA raised shares of Baidu to a “strong-buy” rating in a research note on Monday, September 22nd. Wall Street Zen raised shares of Baidu from a “sell” rating to a “hold” rating in a research note on Saturday. Susquehanna boosted their target price on shares of Baidu from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Zacks Research raised shares of Baidu from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Macquarie raised shares of Baidu from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $91.00 to $176.00 in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Baidu presently has an average rating of “Moderate Buy” and an average price target of $126.54.

Baidu Trading Up 3.3%

Shares of BIDU stock opened at $125.72 on Tuesday. The firm has a market cap of $43.43 billion, a P/E ratio of 11.59 and a beta of 0.42. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $149.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. The firm’s 50-day simple moving average is $110.63 and its 200-day simple moving average is $95.05.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. 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.