Brandywine Global Investment Management LLC Increases Position in Baidu, Inc. $BIDU

Key Points

• Brandywine Global Investment Management LLC increased its stake in Baidu, Inc. by 23.2% in the first quarter, now owning 356,822 shares valued at approximately $32.8 million.
• Several analysts have set new price targets for Baidu, with Benchmark decreasing its price objective from $130 to $120, while Macquarie maintained a 'neutral' rating.
• Baidu's current market cap stands at $31.04 billion, with shares opening at $89.85 and showing a one-year high of $116.25.

Brandywine Global Investment Management LLC grew its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 23.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 356,822 shares of the information services provider's stock after purchasing an additional 67,180 shares during the period. Brandywine Global Investment Management LLC owned about 0.10% of Baidu worth $32,838,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Baidu by 1,377.5% in the 1st 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 buying an additional 4,964,350 shares in the last quarter. RPD Fund Management LLC acquired a new position in Baidu in the fourth quarter worth $72,245,000. Massachusetts Financial Services Co. MA boosted its stake in Baidu by 319.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider's stock worth $74,298,000 after purchasing an additional 615,061 shares in the last quarter. Cantor Fitzgerald L. P. raised its position in shares of Baidu by 1,510.9% during the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock worth $33,722,000 after acquiring an additional 375,145 shares during the last quarter. Finally, Polunin Capital Partners Ltd bought a new stake in shares of Baidu during the first quarter worth $31,748,000.

Analyst Upgrades and Downgrades

BIDU has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. Benchmark reduced their price objective on Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Macquarie reissued a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Citigroup upped their price objective 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 lowered their target price on Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $105.09.

Baidu Trading Down 3.3%

Shares of BIDU stock traded down $2.91 during mid-day trading on Wednesday, hitting $86.16. The company's stock had a trading volume of 8,097,725 shares, compared to its average volume of 4,392,115. The company's fifty day simple moving average is $87.67 and its 200-day simple moving average is $88.45. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $116.25. 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 company has a market cap of $29.76 billion, a PE ratio of 8.55 and a beta of 0.34.

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.