Marathon Trading Investment Management LLC Acquires New Shares in Baidu, Inc. $BIDU

Key Points

• Marathon Trading Investment Management LLC has acquired a new stake in Baidu, Inc., purchasing 3,900 shares valued at approximately $359,000.
• Other institutional investors have also increased their positions in Baidu, with FNY Investment Advisers LLC and Janney Montgomery Scott LLC making significant investments in the first quarter.
• Baidu shares are currently rated as "Hold" by analysts, with a consensus price target of $105.09, while several firms have adjusted their target prices for the stock recently.

Marathon Trading Investment Management LLC acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,900 shares of the information services provider's stock, valued at approximately $359,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BIDU. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 acquiring an additional 4,964,350 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Baidu by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider's stock valued at $125,338,000 after buying an additional 11,658 shares in the last quarter. CoreView Capital Management Ltd grew its holdings in Baidu by 2.0% in the fourth quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider's stock worth $106,399,000 after purchasing an additional 25,220 shares during the last quarter. Bank of America Corp DE raised its position in shares of Baidu by 14.1% in the 4th quarter. Bank of America Corp DE now owns 913,466 shares of the information services provider's stock valued at $77,014,000 after purchasing an additional 112,680 shares during the last quarter. Finally, RPD Fund Management LLC acquired a new stake in Baidu during the 4th quarter worth about $72,245,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. 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. Citigroup upped their price objective on shares of Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. 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 report on Wednesday, July 16th. Macquarie reaffirmed a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Finally, Benchmark lowered their price objective 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. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $105.09.

Baidu Price Performance

BIDU traded down $1.06 during trading on Tuesday, reaching $89.07. 3,553,234 shares of the stock were exchanged, compared to its average volume of 4,365,128. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29. The business's 50 day moving average price is $87.64 and its two-hundred day moving average price is $88.45. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $116.25. The company has a market capitalization of $30.77 billion, a price-to-earnings ratio of 8.84 and a beta of 0.34.

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.