Myriad Asset Management US LP Makes New Investment in Baidu, Inc. (NASDAQ:BIDU)

Myriad Asset Management US LP purchased a new position in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,440 shares of the information services provider's stock, valued at approximately $2,341,000. Baidu makes up 1.0% of Myriad Asset Management US LP's holdings, making the stock its 17th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Merit Financial Group LLC grew its position in shares of Baidu by 17.2% during the first quarter. Merit Financial Group LLC now owns 3,324 shares of the information services provider's stock worth $306,000 after purchasing an additional 489 shares in the last quarter. Polunin Capital Partners Ltd purchased a new stake in Baidu during the 1st quarter valued at approximately $31,748,000. Investors Research Corp raised its position in shares of Baidu by 20.5% during the first quarter. Investors Research Corp now owns 1,760 shares of the information services provider's stock valued at $162,000 after buying an additional 300 shares during the last quarter. Fairtree Asset Management Pty Ltd purchased a new position in shares of Baidu in the fourth quarter worth $392,000. Finally, Wealthedge Investment Advisors LLC bought a new position in shares of Baidu during the fourth quarter worth $337,000.

Baidu Trading Up 1.1%

Shares of NASDAQ BIDU traded up $0.97 during midday trading on Thursday, hitting $85.86. The company's stock had a trading volume of 3,267,598 shares, compared to its average volume of 4,144,551. Baidu, Inc. has a 12-month low of $74.71 and a 12-month 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 firm has a market cap of $29.66 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 2.96 and a beta of 0.33. The business's 50 day moving average is $85.99 and its two-hundred day moving average is $87.65.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Nomura downgraded shares of Baidu from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Macquarie reaffirmed a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Mizuho increased their price target on Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Finally, Nomura Securities lowered shares of Baidu from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average 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.