Pzena Investment Management LLC Boosts Stock Position in Baidu, Inc. (NASDAQ:BIDU)

Pzena Investment Management LLC lifted its stake in Baidu, Inc. (NASDAQ:BIDU) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 330,131 shares of the information services provider’s stock after purchasing an additional 20,550 shares during the period. Pzena Investment Management LLC’s holdings in Baidu were worth $34,759,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in Baidu by 5.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock valued at $297,000 after acquiring an additional 140 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Baidu in the 3rd quarter worth approximately $1,054,000. Banque Cantonale Vaudoise grew its stake in shares of Baidu by 260.4% in the 3rd quarter. Banque Cantonale Vaudoise now owns 11,467 shares of the information services provider’s stock worth $1,207,000 after buying an additional 8,285 shares during the last quarter. Natixis Advisors LLC increased its position in Baidu by 18.9% during the 3rd quarter. Natixis Advisors LLC now owns 16,822 shares of the information services provider’s stock valued at $1,771,000 after buying an additional 2,669 shares in the last quarter. Finally, Intellectus Partners LLC raised its stake in Baidu by 1.5% during the third quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock valued at $1,741,000 after buying an additional 250 shares during the last quarter.

Analyst Ratings Changes

BIDU has been the subject of a number of analyst reports. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Loop Capital lowered their price objective on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and cut their target price for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Finally, Bank of America decreased their price target on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Baidu currently has a consensus rating of “Moderate Buy” and an average price target of $127.29.

Baidu Price Performance

Shares of BIDU stock traded up $0.55 on Wednesday, reaching $86.57. The company’s stock had a trading volume of 644,254 shares, compared to its average volume of 3,594,502. The company has a market capitalization of $30.36 billion, a price-to-earnings ratio of 11.33 and a beta of 0.51. The stock’s fifty day simple moving average is $93.76 and its 200-day simple moving average is $93.01. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 1 year low of $79.68 and a 1 year high of $126.23.

About Baidu

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.