Man Group plc Sells 3,355 Shares of Baidu, Inc. (NASDAQ:BIDU)

Man Group plc lessened its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,563 shares of the information services provider's stock after selling 3,355 shares during the period. Man Group plc's holdings in Baidu were worth $2,240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC purchased a new stake in Baidu during the fourth quarter valued at about $42,000. Sycomore Asset Management purchased a new stake in shares of Baidu during the 4th quarter valued at approximately $51,000. GeoWealth Management LLC grew its stake in Baidu by 88.5% in the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock valued at $55,000 after buying an additional 308 shares in the last quarter. Savvy Advisors Inc. bought a new position in Baidu in the 4th quarter worth about $232,000. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Baidu by 45.8% in the fourth quarter. Atomi Financial Group Inc. now owns 3,026 shares of the information services provider's stock worth $255,000 after buying an additional 950 shares in the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the topic of a number of analyst reports. Nomura Securities lowered shares of Baidu from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. Barclays set a $84.00 price target on shares of Baidu and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Macquarie reissued a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Mizuho upped their target price on Baidu from $95.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Baidu in a research report on Saturday, March 8th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Baidu currently has a consensus rating of "Hold" and an average target price of $107.82.

Baidu Trading Up 0.5%

Shares of NASDAQ:BIDU traded up $0.39 on Wednesday, reaching $84.31. 951,340 shares of the company traded hands, compared to its average volume of 4,130,808. Baidu, Inc. has a 52 week low of $74.71 and a 52 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 business's 50-day simple moving average is $87.46 and its 200 day simple moving average is $87.73. The stock has a market capitalization of $29.12 billion, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 2.96 and a beta of 0.37.

About Baidu

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.