940,044 Shares in Baidu, Inc. $BIDU Purchased by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC acquired 940,044 shares of Baidu, Inc. ($BIDU) for approximately $80.6 million, representing a stake of 0.27% in the company by the end of the reporting period.
• Analysts have expressed mixed sentiments on Baidu, with Barclays lowering its price target to $81.00 while Zacks upgraded its rating from "strong sell" to "hold," and the average target price now stands at $114.27.
• Baidu's stock opened at $135.35 and has shown significant volatility, with a 12-month low of $74.71 and a high of $138.18, alongside a market cap of $46.76 billion.

Kingstone Capital Partners Texas LLC purchased a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 940,044 shares of the information services provider's stock, valued at approximately $80,618,000. Kingstone Capital Partners Texas LLC owned 0.27% of Baidu at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC purchased a new stake in Baidu in the 1st quarter valued at about $29,000. Assetmark Inc. grew its holdings in Baidu by 143.3% in the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock valued at $30,000 after buying an additional 192 shares during the period. UMB Bank n.a. grew its holdings in shares of Baidu by 80.3% during the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock worth $37,000 after purchasing an additional 179 shares during the period. CX Institutional purchased a new stake in shares of Baidu during the 1st quarter worth about $49,000. Finally, Parallel Advisors LLC grew its holdings in shares of Baidu by 17.0% during the 2nd quarter. Parallel Advisors LLC now owns 935 shares of the information services provider's stock worth $80,000 after purchasing an additional 136 shares during the period.

Baidu Stock Performance

BIDU stock opened at $135.35 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. The firm has a market cap of $46.76 billion, a P/E ratio of 12.47 and a beta of 0.34. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $138.18. The stock's 50 day simple moving average is $96.05 and its 200 day simple moving average is $90.77.

Analyst Ratings Changes

A number of analysts have recently issued reports on BIDU shares. Barclays decreased their target price on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. Zacks Research upgraded Baidu from a "strong sell" rating to a "hold" rating in a report on Tuesday. Zephirin Group assumed coverage on Baidu in a report on Monday, September 15th. They issued a "sell" rating and a $92.00 price target for the company. Wall Street Zen cut Baidu from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Finally, Susquehanna upped their price target on Baidu from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Baidu currently has an average rating of "Hold" and an average target price of $114.27.

Baidu Company 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.

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