Alyeska Investment Group L.P. Decreases Stock Position in Baidu, Inc. $BIDU

Key Points

• Alyeska Investment Group L.P. reduced its stake in Baidu, Inc. by 51.1%, selling 156,868 shares and holding 150,000 shares worth approximately $13.8 million.
• Several institutional investors increased their positions in Baidu, with Mirae Asset Global Investments raising its holdings by 1,377.5% to over 5.3 million shares.
• Baidu's stock has experienced a recent trading increase of 1.9% with current shares priced at $98.21, after a year low of $74.71 and a high of $116.25.

Alyeska Investment Group L.P. lowered its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 51.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,000 shares of the information services provider's stock after selling 156,868 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Baidu were worth $13,804,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Baidu by 1,377.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock valued at $490,035,000 after purchasing an additional 4,964,350 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Baidu by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider's stock valued at $125,338,000 after acquiring an additional 11,658 shares during the period. CoreView Capital Management Ltd boosted its stake in shares of Baidu by 2.0% during the 4th quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider's stock worth $106,399,000 after acquiring an additional 25,220 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Baidu by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,037,626 shares of the information services provider's stock worth $95,494,000 after acquiring an additional 25,834 shares during the period. Finally, Bank of America Corp DE increased its stake in Baidu by 14.1% in the 4th quarter. Bank of America Corp DE now owns 913,466 shares of the information services provider's stock valued at $77,014,000 after purchasing an additional 112,680 shares in the last quarter.

Baidu Trading Up 3.8%

BIDU stock traded up $3.75 during trading on Friday, reaching $101.96. 7,269,151 shares of the stock traded hands, compared to its average volume of 4,897,577. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $116.25. The firm has a market capitalization of $35.22 billion, a PE ratio of 9.40 and a beta of 0.34. The business's 50 day moving average price is $89.58 and its 200-day moving average price is $88.58.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Susquehanna upped their target price on Baidu from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Tuesday, September 2nd. Wall Street Zen downgraded Baidu from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Citigroup boosted their target price on shares of Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Macquarie reissued a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Finally, Benchmark cut their price target on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, August 21st. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Baidu currently has a consensus rating of "Hold" and a consensus target price of $104.00.

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.