Contrarius Investment Management Ltd Buys 72,825 Shares of Baidu, Inc. (NASDAQ:BIDU)

Contrarius Investment Management Ltd grew its stake in Baidu, Inc. (NASDAQ:BIDUFree Report) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 587,487 shares of the information services provider’s stock after buying an additional 72,825 shares during the period. Baidu accounts for about 3.8% of Contrarius Investment Management Ltd’s holdings, making the stock its 10th biggest holding. Contrarius Investment Management Ltd’s holdings in Baidu were worth $69,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. JARISLOWSKY FRASER Ltd acquired a new position in Baidu in the fourth quarter valued at $231,000. Hsbc Holdings PLC lifted its stake in shares of Baidu by 139.3% in the 4th quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock valued at $63,907,000 after purchasing an additional 312,467 shares during the period. Orion Portfolio Solutions LLC lifted its stake in shares of Baidu by 11.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 7,615 shares of the information services provider’s stock valued at $898,000 after purchasing an additional 776 shares during the period. TCW Group Inc. grew its stake in Baidu by 3.3% during the fourth quarter. TCW Group Inc. now owns 118,181 shares of the information services provider’s stock worth $14,074,000 after purchasing an additional 3,763 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Baidu by 51.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 19,496 shares of the information services provider’s stock worth $2,322,000 after purchasing an additional 6,601 shares in the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the topic of a number of research analyst reports. HSBC cut their price target on Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Citigroup reduced their price target on shares of Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Barclays cut their price target on Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Morgan Stanley downgraded Baidu from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $140.00 to $125.00 in a report on Friday, May 17th. Finally, StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a report on Saturday, March 23rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.93.

Check Out Our Latest Research Report on BIDU

Baidu Stock Performance

Shares of NASDAQ BIDU traded down $1.15 during midday trading on Monday, reaching $100.28. The company’s stock had a trading volume of 2,661,700 shares, compared to its average volume of 3,454,865. The stock has a market capitalization of $35.16 billion, a P/E ratio of 13.42 and a beta of 0.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.79 and a quick ratio of 2.79. The firm has a 50 day moving average price of $104.55 and a 200-day moving average price of $108.12. Baidu, Inc. has a 12-month low of $94.25 and a 12-month high of $156.98.

About Baidu

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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