Mackenzie Financial Corp Purchases 29,964 Shares of Baidu, Inc. (NASDAQ:BIDU)

Key Points

• Mackenzie Financial Corp boosted its holdings in Baidu, Inc. by 103.6% in Q1, acquiring a total of 58,900 shares valued at approximately $5.42 million.
• Analyst ratings for Baidu show a mix of opinion, with twelve analysts rating it as "Hold" and seven as "Buy", alongside varying target price adjustments by different firms.
• Baidu's stock traded at $86.13, reflecting a 2.0% decrease, with a market cap of $29.75 billion and a 52-week trading range between $74.71 and $116.25.

Mackenzie Financial Corp boosted its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 103.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,900 shares of the information services provider's stock after buying an additional 29,964 shares during the period. Mackenzie Financial Corp's holdings in Baidu were worth $5,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BIDU. International Assets Investment Management LLC boosted its position in shares of Baidu by 0.7% during the 1st quarter. International Assets Investment Management LLC now owns 16,100 shares of the information services provider's stock worth $1,482,000 after purchasing an additional 114 shares in the last quarter. UMB Bank n.a. boosted its position 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 in the last quarter. Assetmark Inc. raised its stake in shares of Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after buying an additional 192 shares during the last quarter. Investors Research Corp raised its stake in shares of Baidu by 20.5% during the 1st quarter. Investors Research Corp now owns 1,760 shares of the information services provider's stock worth $162,000 after buying an additional 300 shares during the last quarter. Finally, GeoWealth Management LLC raised its stake in shares of Baidu by 88.5% during the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock worth $55,000 after buying an additional 308 shares during the last quarter.

Analyst Ratings Changes

Several research firms have recently issued reports on BIDU. Citigroup lifted their price target on Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Macquarie reaffirmed a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. 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 target price on shares of Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group dropped their price objective on shares of Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $105.09.

Baidu Stock Performance

Shares of BIDU stock traded up $1.51 during trading on Monday, reaching $87.64. The company had a trading volume of 2,776,516 shares, compared to its average volume of 4,591,063. Baidu, Inc. has a one year low of $74.71 and a one year high of $116.25. The company has a market capitalization of $30.28 billion, a PE ratio of 8.69 and a beta of 0.34. The firm's 50 day simple moving average is $86.85 and its two-hundred day simple moving average is $88.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29.

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.