Driehaus Capital Management LLC Acquires Shares of 19,761 Baidu, Inc. $BIDU

Key Points

• Driehaus Capital Management LLC has acquired 19,761 shares of Baidu, Inc. valued at approximately $1.8 million, marking a new stake in the company.
• A number of institutional investors have also adjusted their stakes in Baidu, with Earnest Partners LLC increasing its holdings by 2.5% during the first quarter, now owning 672,741 shares valued at about $61.9 million.
• Recent analyst ratings show a mixed outlook on Baidu, with Citigroup raising its price target to $140 while several others have issued a "hold" or "sell" rating, resulting in a consensus rating of "Hold."

Driehaus Capital Management LLC acquired a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,761 shares of the information services provider's stock, valued at approximately $1,819,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Earnest Partners LLC increased its holdings in Baidu by 2.5% in the first quarter. Earnest Partners LLC now owns 672,741 shares of the information services provider's stock valued at $61,912,000 after buying an additional 16,159 shares in the last quarter. Connective Capital Management LLC acquired a new position in shares of Baidu during the 1st quarter worth about $2,141,000. Oliver Luxxe Assets LLC acquired a new position in shares of Baidu during the 1st quarter worth about $5,116,000. Jump Financial LLC acquired a new position in shares of Baidu during the 1st quarter worth about $377,000. Finally, Compound Planning Inc. raised its position in shares of Baidu by 70.9% during the 1st quarter. Compound Planning Inc. now owns 5,170 shares of the information services provider's stock worth $476,000 after purchasing an additional 2,144 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Macquarie restated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Citigroup upped their price target on shares of Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Wall Street Zen downgraded shares of Baidu from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Barclays reduced their price target on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. Finally, Benchmark reduced their price target on shares of Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, August 21st. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, Baidu currently has a consensus rating of "Hold" and an average price target of $102.75.

Baidu Stock Up 4.8%

Shares of NASDAQ BIDU opened at $95.30 on Monday. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25. The stock has a market cap of $32.92 billion, a PE ratio of 8.78 and a beta of 0.34. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $88.42 and a 200 day moving average of $88.40.

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.

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