Mondrian Investment Partners LTD Buys 228,623 Shares of Baidu, Inc. (NASDAQ:BIDU)

Key Points

• Mondrian Investment Partners LTD increased its holdings in Baidu by 41.7% in Q1, owning 777,534 shares valued at approximately $71.6 million.
• Analysts have recently adjusted their price targets for Baidu, with Benchmark lowering it from $130 to $120, while Citigroup raised it from $138 to $140, maintaining a "buy" rating.
• Baidu's stock opened at $87.83, with a market capitalization of $30.34 billion and a PE ratio of 8.71, indicating a relatively low valuation compared to its earnings.

Mondrian Investment Partners LTD increased its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 41.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 777,534 shares of the information services provider's stock after buying an additional 228,623 shares during the quarter. Mondrian Investment Partners LTD owned 0.23% of Baidu worth $71,556,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIDU. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Baidu by 1,377.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock worth $490,035,000 after buying an additional 4,964,350 shares during the last quarter. RPD Fund Management LLC purchased a new position in shares of Baidu in the 4th quarter worth about $72,245,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Baidu by 319.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider's stock worth $74,298,000 after buying an additional 615,061 shares during the last quarter. Cantor Fitzgerald L. P. boosted its holdings in shares of Baidu by 1,510.9% in the 4th quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock worth $33,722,000 after buying an additional 375,145 shares during the last quarter. Finally, Polunin Capital Partners Ltd purchased a new position in shares of Baidu in the 1st quarter worth about $31,748,000.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Jefferies Financial Group dropped their price objective on shares of Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Macquarie reaffirmed a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Benchmark dropped their price objective on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Barclays dropped their price objective on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, July 18th. Finally, Citigroup upped their price objective on shares of Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Baidu presently has a consensus rating of "Hold" and a consensus target price of $105.09.

Baidu Price Performance

Shares of Baidu stock traded up $1.12 on Friday, reaching $89.85. The stock had a trading volume of 3,829,679 shares, compared to its average volume of 3,819,469. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $116.25. The company has a market cap of $31.04 billion, a P/E ratio of 8.91 and a beta of 0.34. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.27. The business's 50 day moving average is $87.61 and its two-hundred day moving average is $88.50.

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.