Scion Asset Management LLC Has $10.54 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Scion Asset Management LLC raised its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 199.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,000 shares of the information services provider's stock after purchasing an additional 83,300 shares during the period. Baidu accounts for approximately 13.6% of Scion Asset Management LLC's holdings, making the stock its 2nd biggest position. Scion Asset Management LLC's holdings in Baidu were worth $10,539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC bought a new stake in Baidu during the fourth quarter worth approximately $42,000. Sycomore Asset Management bought a new stake in Baidu during the fourth quarter worth approximately $51,000. GeoWealth Management LLC lifted its stake in Baidu by 88.5% during the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock valued at $55,000 after purchasing an additional 308 shares during the last quarter. Retireful LLC acquired a new stake in Baidu during the fourth quarter valued at approximately $205,000. Finally, Savvy Advisors Inc. acquired a new stake in Baidu during the fourth quarter valued at approximately $232,000.

Analyst Ratings Changes

Several analysts recently commented on BIDU shares. Barclays cut their target price on shares of Baidu from $95.00 to $90.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. StockNews.com lowered shares of Baidu from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Daiwa Capital Markets reissued an "outperform" rating on shares of Baidu in a research note on Tuesday, February 18th. Mizuho increased their target price on shares of Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Baidu has an average rating of "Hold" and an average target price of $109.55.

Baidu Stock Up 0.1%

BIDU stock traded up $0.09 during midday trading on Tuesday, reaching $89.34. The company had a trading volume of 2,987,025 shares, compared to its average volume of 4,084,689. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $116.25. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $30.86 billion, a P/E ratio of 9.74, a PEG ratio of 2.96 and a beta of 0.37. The company has a 50 day moving average of $88.96 and a two-hundred day moving average of $87.97.

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.