Annandale Capital LLC Has $5.53 Million Stake in Baidu, Inc. (NASDAQ:BIDU)

Key Points

• Annandale Capital LLC has increased its stake in Baidu, Inc. by 50%, now holding 60,032 shares valued at approximately $5.53 million.
• Several institutional investors, including Cantor Fitzgerald L.P. and Ameriprise Financial Inc., have also significantly adjusted their positions in Baidu, indicating growing interest in the stock.
• Analysts have mixed ratings on Baidu, with price targets ranging from $81.00 to $140.00, reflecting a cautious outlook despite some buy ratings from major firms.

Annandale Capital LLC grew its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 50.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,032 shares of the information services provider's stock after purchasing an additional 20,000 shares during the quarter. Baidu comprises approximately 0.3% of Annandale Capital LLC's investment portfolio, making the stock its 24th biggest position. Annandale Capital LLC's holdings in Baidu were worth $5,525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of Baidu in the first quarter valued at approximately $922,000. Janney Montgomery Scott LLC bought a new stake in shares of Baidu in the first quarter valued at approximately $274,000. Ameriprise Financial Inc. boosted its stake in shares of Baidu by 7.5% in the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider's stock valued at $3,874,000 after buying an additional 3,200 shares during the period. Cantor Fitzgerald L. P. boosted its stake in shares of Baidu by 1,510.9% in the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock valued at $33,722,000 after buying an additional 375,145 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Baidu by 19.4% in the fourth quarter. Nuveen Asset Management LLC now owns 166,858 shares of the information services provider's stock valued at $14,068,000 after buying an additional 27,057 shares during the period.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays cut their price target on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research note on Friday, July 18th. Benchmark cut their price target on Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Macquarie reiterated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Citigroup boosted their price target on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group cut their target price on Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $105.09.

Baidu Stock Down 1.6%

Shares of BIDU opened at $85.99 on Tuesday. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $116.25. The stock has a market capitalization of $29.71 billion, a price-to-earnings ratio of 8.53 and a beta of 0.34. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.29 and a current ratio of 2.29. The stock has a fifty day moving average of $87.26 and a 200-day moving average of $88.50.

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.

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