Baidu, Inc. $BIDU Holdings Raised by GMT Capital Corp

Key Points

• GMT Capital Corp increased its stake in Baidu, Inc. by 43.2%, owning a total of 591,427 shares worth approximately $54.4 million, making Baidu its 15th largest position.
• Several research firms have updated their ratings and price targets for Baidu, with Citigroup raising its price target to $140 while Wall Street Zen downgraded the stock from a "hold" to a "sell."
• Baidu's shares opened at $95.30, and the company has a market capitalization of $32.92 billion, with a 52-week trading range between $74.71 and $116.25.

GMT Capital Corp lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 43.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 591,427 shares of the information services provider's stock after acquiring an additional 178,300 shares during the quarter. Baidu accounts for approximately 2.9% of GMT Capital Corp's portfolio, making the stock its 15th largest holding. GMT Capital Corp owned about 0.17% of Baidu worth $54,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BIDU. Driehaus Capital Management LLC acquired a new stake in shares of Baidu in the first quarter valued at about $1,819,000. Earnest Partners LLC boosted its stake in Baidu by 2.5% in the 1st quarter. Earnest Partners LLC now owns 672,741 shares of the information services provider's stock worth $61,912,000 after buying an additional 16,159 shares during the last quarter. Connective Capital Management LLC acquired a new stake in Baidu in the 1st quarter worth about $2,141,000. Oliver Luxxe Assets LLC acquired a new stake in Baidu in the 1st quarter worth about $5,116,000. Finally, Jump Financial LLC acquired a new stake in Baidu in the 1st quarter worth about $377,000.

Wall Street Analysts Forecast Growth

BIDU has been the subject of several research analyst reports. Benchmark dropped their price target on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, August 21st. Susquehanna raised their target price on Baidu from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Tuesday. Jefferies Financial Group cut their target price on shares of Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Barclays cut their target price on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Friday, July 18th. Finally, Macquarie reaffirmed a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $104.00.

Baidu Price Performance

NASDAQ:BIDU traded up $0.99 during mid-day trading on Tuesday, reaching $96.29. 7,124,721 shares of the stock were exchanged, compared to its average volume of 4,451,104. The business has a fifty day moving average price of $88.83 and a 200 day moving average price of $88.44. The firm has a market capitalization of $33.26 billion, a PE ratio of 8.87 and a beta of 0.34. 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 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19.

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.