Melqart Asset Management UK Ltd Acquires New Stake in Baidu, Inc. (NASDAQ:BIDU)

Melqart Asset Management UK Ltd acquired a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 40,600 shares of the information services provider’s stock, valued at approximately $8,833,000.

Other hedge funds also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Baidu by 149.7% in the 1st quarter. FMR LLC now owns 82,956 shares of the information services provider’s stock worth $13,674,000 after purchasing an additional 49,735 shares in the last quarter. Baird Financial Group Inc. bought a new stake in shares of Baidu in the 4th quarter worth $248,000. JBF Capital Inc. increased its holdings in shares of Baidu by 21,523.8% in the 4th quarter. JBF Capital Inc. now owns 56,222 shares of the information services provider’s stock worth $56,000 after purchasing an additional 55,962 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Baidu by 33.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,491 shares of the information services provider’s stock worth $3,566,000 after purchasing an additional 4,155 shares in the last quarter. Finally, Brown Advisory Inc. bought a new stake in shares of Baidu in the 4th quarter worth $200,000. 51.68% of the stock is owned by institutional investors.

A number of analysts have commented on the company. CLSA reduced their target price on Baidu from $350.00 to $335.00 and set a “buy” rating for the company in a report on Tuesday, May 25th. Morgan Stanley cut their price objective on Baidu from $300.00 to $230.00 and set an “equal weight” rating for the company in a report on Thursday, May 20th. Zacks Investment Research lowered Baidu from a “hold” rating to a “sell” rating in a report on Thursday, July 15th. Susquehanna Bancshares cut their price objective on Baidu from $450.00 to $250.00 and set a “positive” rating for the company in a report on Thursday, May 20th. Finally, Benchmark cut their price objective on Baidu from $385.00 to $370.00 and set a “buy” rating for the company in a report on Wednesday, May 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eighteen have issued a buy rating to the stock. Baidu presently has a consensus rating of “Buy” and a consensus target price of $296.47.

Shares of Baidu stock traded down $2.57 during trading hours on Thursday, hitting $177.94. The company’s stock had a trading volume of 114,654 shares, compared to its average volume of 4,434,383. The stock has a 50 day moving average price of $189.63. Baidu, Inc. has a 12-month low of $114.75 and a 12-month high of $354.82. The firm has a market cap of $59.72 billion, a P/E ratio of 8.52, a PEG ratio of 6.95 and a beta of 1.02. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.26.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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