NS Partners Ltd Buys New Position in Baidu, Inc. $BIDU

NS Partners Ltd purchased a new position in Baidu, Inc. (NASDAQ:BIDU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,400 shares of the information services provider’s stock, valued at approximately $1,189,000.

Several other hedge funds have also recently modified their holdings of BIDU. Empowered Funds LLC acquired a new stake in Baidu in the 1st quarter worth approximately $334,000. EverSource Wealth Advisors LLC lifted its stake in shares of Baidu by 71.6% during 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 period. Guggenheim Capital LLC grew its holdings in shares of Baidu by 53.3% during the second quarter. Guggenheim Capital LLC now owns 9,670 shares of the information services provider’s stock valued at $829,000 after buying an additional 3,362 shares during the last quarter. First Trust Advisors LP increased its position in shares of Baidu by 2.6% in the 2nd quarter. First Trust Advisors LP now owns 50,033 shares of the information services provider’s stock valued at $4,291,000 after acquiring an additional 1,259 shares during the period. Finally, Flow Traders U.S. LLC purchased a new position in Baidu in the 2nd quarter worth $254,000.

Baidu Trading Down 1.9%

Shares of NASDAQ:BIDU opened at $95.28 on Tuesday. Baidu, Inc. has a 12-month low of $89.60 and a 12-month high of $165.30. The company has a market capitalization of $32.42 billion, a PE ratio of -45.16, a PEG ratio of 4.29 and a beta of 0.58. The business has a 50 day moving average of $106.58 and a two-hundred day moving average of $118.32. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.28.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup reiterated a “buy” rating on shares of Baidu in a research note on Tuesday, June 23rd. Nomura upped their target price on Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Barclays cut their price target on shares of Baidu from $124.00 to $96.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 19th. JPMorgan Chase & Co. decreased their price objective on shares of Baidu from $230.00 to $205.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Finally, Morgan Stanley downgraded shares of Baidu from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $130.00 to $80.00 in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $154.89.

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.