Shah Capital Management Sells 344 Shares of Baidu, Inc. (NASDAQ:BIDU)

Shah Capital Management cut its stake in Baidu, Inc. (NASDAQ:BIDU) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 164,656 shares of the information services provider’s stock after selling 344 shares during the quarter. Baidu accounts for about 2.8% of Shah Capital Management’s portfolio, making the stock its 7th biggest position. Shah Capital Management’s holdings in Baidu were worth $13,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after purchasing an additional 593 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Baidu in the third quarter worth approximately $72,000. Grove Bank & Trust raised its stake in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 shares during the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in shares of Baidu in the third quarter worth approximately $82,000. Finally, Denver PWM LLC raised its stake in shares of Baidu by 28.5% in the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after purchasing an additional 220 shares during the last quarter.

Analyst Upgrades and Downgrades

BIDU has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Barclays lowered Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Mizuho reduced their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Monday, November 25th. Finally, StockNews.com raised Baidu from a “hold” rating to a “buy” rating in a report on Friday, December 27th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $113.75.

Baidu Trading Up 4.6 %

NASDAQ:BIDU opened at $86.40 on Monday. The company has a market cap of $30.30 billion, a P/E ratio of 10.58, a P/E/G ratio of 1.90 and a beta of 0.46. The stock’s fifty day moving average price is $84.95 and its two-hundred day moving average price is $88.79. Baidu, Inc. has a 1 year low of $77.19 and a 1 year high of $116.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

Baidu 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.