Earnest Partners LLC Increases Holdings in Baidu, Inc. $BIDU

Key Points

• Earnest Partners LLC has increased its stake in Baidu, Inc. by 2.5%, now owning approximately 0.19% of the company, valued at about $61.9 million.
• Several hedge funds, including Tower Research Capital LLC and Schonfeld Strategic Advisors LLC, have made significant increases to their holdings in Baidu over the previous quarter.
• Analysts have mixed opinions on Baidu's stock, with some price targets dropping and others increasing, resulting in the stock currently having an average rating of "Hold" and a target price of $102.75.

Earnest Partners LLC increased its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 672,741 shares of the information services provider's stock after acquiring an additional 16,159 shares during the quarter. Earnest Partners LLC owned about 0.19% of Baidu worth $61,912,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BIDU. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 buying an additional 4,964,350 shares during the period. RPD Fund Management LLC bought a new stake in shares of Baidu in the fourth quarter worth about $72,245,000. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 acquiring an additional 615,061 shares in the last quarter. Cantor Fitzgerald L. P. increased its holdings in shares of Baidu by 1,510.9% in 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 in the last quarter. Finally, Triata Capital Ltd increased its holdings in shares of Baidu by 193.9% in the first quarter. Triata Capital Ltd now owns 568,432 shares of the information services provider's stock worth $52,313,000 after acquiring an additional 375,007 shares in the last quarter.

Baidu Trading Up 4.8%

Shares of Baidu stock traded up $4.33 on Monday, hitting $95.30. 10,892,708 shares of the company's stock traded hands, compared to its average volume of 4,425,984. Baidu, Inc. has a one year low of $74.71 and a one year high of $116.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. The company has a fifty day moving average of $88.42 and a two-hundred day moving average of $88.40. The company has a market capitalization of $32.92 billion, a price-to-earnings ratio of 8.78 and a beta of 0.34.

Analyst Ratings Changes

Several equities research analysts have issued reports on BIDU shares. Barclays lowered their price target on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. Wall Street Zen lowered Baidu from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Jefferies Financial Group dropped their target price on Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Macquarie restated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Finally, Citigroup raised their price target on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $102.75.

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.