100,146 Shares in Baidu, Inc. $BIDU Acquired by Melqart Asset Management UK Ltd

Key Points

• Melqart Asset Management UK Ltd acquired 100,146 shares of Baidu (~$13.2M) in Q3, representing about 1.8% of its portfolio and making Baidu its 23rd largest holding.
• Several institutions made sizable moves: Schroder bought a new position valued at ~$165.3M, Contrarius increased its stake by 500.3% to 891,749 shares, and Primecap and RPD materially raised their holdings.
• Analysts have a consensus rating of Moderate Buy with a consensus price target of $157.89, and notable upgrades include JPMorgan raising Baidu to "overweight" with a $188 target.

Melqart Asset Management UK Ltd acquired a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 100,146 shares of the information services provider's stock, valued at approximately $13,196,000. Baidu makes up about 1.8% of Melqart Asset Management UK Ltd's portfolio, making the stock its 23rd biggest position.

Several other institutional investors have also added to or reduced their stakes in the business. Primecap Management Co. CA raised its holdings in shares of Baidu by 1.4% during the second quarter. Primecap Management Co. CA now owns 12,116,750 shares of the information services provider's stock valued at $1,039,132,000 after purchasing an additional 170,414 shares during the last quarter. RPD Fund Management LLC raised its stake in Baidu by 161.6% during the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider's stock valued at $107,959,000 after buying an additional 777,570 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of Baidu during the 3rd quarter valued at $165,334,000. Capital World Investors lifted its holdings in shares of Baidu by 0.5% during the 3rd quarter. Capital World Investors now owns 977,817 shares of the information services provider's stock valued at $128,847,000 after buying an additional 5,343 shares during the period. Finally, Contrarius Group Holdings Ltd boosted its stake in shares of Baidu by 500.3% in the 3rd quarter. Contrarius Group Holdings Ltd now owns 891,749 shares of the information services provider's stock worth $117,506,000 after buying an additional 743,205 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. upgraded Baidu from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $110.00 to $188.00 in a research report on Monday, November 24th. Nomura dropped their target price on Baidu from $196.00 to $186.00 and set a "buy" rating on the stock in a research report on Friday, March 6th. Bank of America boosted their price target on Baidu from $100.00 to $151.00 and gave the company a "buy" rating in a research note on Wednesday, November 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Baidu in a report on Monday, December 29th. Finally, National Bank Financial upgraded shares of Baidu to an "outperform" rating in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $157.89.

Baidu Stock Up 0.7%

BIDU stock opened at $124.07 on Friday. The stock has a market cap of $42.86 billion, a P/E ratio of 78.03 and a beta of 0.32. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $165.30. The business's 50-day moving average price is $140.63 and its 200-day moving average price is $128.34. The company has a quick ratio of 1.91, a current ratio of 1.76 and a debt-to-equity ratio of 0.22.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China's leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.

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