Baidu, Inc. (NASDAQ:BIDU) Shares Acquired by Monaco Asset Management SAM

Key Points

• Monaco Asset Management SAM has increased its stake in Baidu, Inc. by 35.8% to approximately $22.67 million, making Baidu its third largest holding.
• During the 1st quarter, several institutional investors, including FNY Investment Advisers LLC and Ameriprise Financial Inc., also acquired new stakes in Baidu, reflecting growing interest among hedge funds.
• Analysts have varied opinions on Baidu with a consensus rating of "Hold" and price targets ranging between $81.00 and $140.00, indicating divided sentiment in the market.

Monaco Asset Management SAM lifted its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 35.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 246,371 shares of the information services provider's stock after acquiring an additional 65,000 shares during the period. Baidu accounts for about 4.6% of Monaco Asset Management SAM's portfolio, making the stock its 3rd largest position. Monaco Asset Management SAM owned approximately 0.07% of Baidu worth $22,674,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of BIDU. Creekmur Asset Management LLC bought a new stake in shares of Baidu in the 1st quarter worth $29,000. Assetmark Inc. grew its stake in shares of Baidu by 143.3% in the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after acquiring an additional 192 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock worth $37,000 after acquiring an additional 179 shares in the last quarter. CX Institutional bought a new stake in shares of Baidu in the 1st quarter worth $49,000. Finally, GeoWealth Management LLC grew its stake in shares of Baidu by 88.5% in the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock worth $55,000 after acquiring an additional 308 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BIDU. Citigroup increased their price target on shares of Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Macquarie restated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Jefferies Financial Group reduced their price target on shares of Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Benchmark reduced their price target on shares of Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Finally, 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. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $105.09.

Baidu Stock Up 2.2%

BIDU traded up $1.93 on Thursday, hitting $87.87. The company had a trading volume of 4,054,192 shares, compared to its average volume of 4,315,244. The stock has a fifty day moving average price of $86.80 and a 200-day moving average price of $88.22. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.29 and a current ratio of 2.29. The stock has a market capitalization of $30.35 billion, a price-to-earnings ratio of 8.72 and a beta of 0.33.

Baidu 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.