Mackenzie Financial Corp Raises Stake in Baidu, Inc. (NASDAQ:BIDU)

Mackenzie Financial Corp lifted its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 171.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 28,936 shares of the information services provider's stock after acquiring an additional 18,290 shares during the quarter. Mackenzie Financial Corp's holdings in Baidu were worth $2,440,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Baidu by 1.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 48,176 shares of the information services provider's stock worth $4,062,000 after acquiring an additional 599 shares during the last quarter. Vise Technologies Inc. acquired a new position in shares of Baidu in the 4th quarter worth approximately $265,000. CoreView Capital Management Ltd lifted its holdings in shares of Baidu by 2.0% in 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 during the last quarter. Triata Capital Ltd acquired a new position in shares of Baidu in the 4th quarter worth approximately $16,308,000. Finally, Saba Capital Management L.P. boosted its position in Baidu by 28.3% in the 4th quarter. Saba Capital Management L.P. now owns 107,068 shares of the information services provider's stock valued at $9,027,000 after buying an additional 23,649 shares during the period.

Baidu Stock Down 3.1%

NASDAQ:BIDU traded down $2.58 during midday trading on Friday, hitting $81.81. 4,345,417 shares of the company were exchanged, compared to its average volume of 4,159,081. The company has a fifty day simple moving average of $86.74 and a 200 day simple moving average of $87.66. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $116.25. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $28.26 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 2.96 and a beta of 0.37.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BIDU. Benchmark reduced their price objective on Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Daiwa Capital Markets reissued an "outperform" rating on shares of Baidu in a research report on Tuesday, February 18th. Citigroup cut their target price on shares of Baidu from $139.00 to $138.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Nomura lowered shares of Baidu from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 19th. Finally, Nomura Securities lowered shares of Baidu from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $107.82.

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.