Clearline Capital LP Sells 35,447 Shares of Baidu, Inc. (NASDAQ:BIDU)

Clearline Capital LP decreased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 151,115 shares of the information services provider's stock after selling 35,447 shares during the quarter. Baidu makes up about 1.7% of Clearline Capital LP's holdings, making the stock its 17th biggest position. Clearline Capital LP's holdings in Baidu were worth $12,741,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BIDU. Intellectus Partners LLC raised its stake in Baidu by 1.4% in the 4th quarter. Intellectus Partners LLC now owns 16,773 shares of the information services provider's stock worth $1,414,000 after purchasing an additional 235 shares in the last quarter. US Bancorp DE increased its holdings in Baidu by 7.2% in the 4th quarter. US Bancorp DE now owns 4,036 shares of the information services provider's stock valued at $340,000 after buying an additional 270 shares during the period. GeoWealth Management LLC increased its holdings in Baidu by 88.5% in the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock valued at $55,000 after buying an additional 308 shares during the period. Ignite Planners LLC boosted its position in shares of Baidu by 7.3% during the 4th quarter. Ignite Planners LLC now owns 5,549 shares of the information services provider's stock worth $466,000 after acquiring an additional 376 shares in the last quarter. Finally, SRN Advisors LLC boosted its position in shares of Baidu by 3.1% during the 4th quarter. SRN Advisors LLC now owns 15,800 shares of the information services provider's stock worth $1,332,000 after acquiring an additional 468 shares in the last quarter.

Baidu Stock Up 0.2%

Shares of BIDU stock traded up $0.20 on Tuesday, hitting $91.47. The stock had a trading volume of 1,812,252 shares, compared to its average volume of 4,976,493. The business has a 50 day moving average of $89.29 and a 200 day moving average of $88.03. The stock has a market cap of $31.60 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 2.96 and a beta of 0.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25.

Analyst Ratings Changes

Several research firms recently issued reports on BIDU. Nomura Securities lowered shares of Baidu from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Daiwa Capital Markets reaffirmed an "outperform" rating on shares of Baidu in a report on Tuesday, February 18th. Nomura lowered shares of Baidu from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. StockNews.com lowered shares of Baidu from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, Mizuho upped their price objective 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. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Baidu has an average rating of "Hold" and a consensus target price of $110.83.

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.