Nan Fung Trinity HK Ltd. Has $35.76 Million Stake in Baidu, Inc. $BIDU

Key Points

• Nan Fung Trinity HK Ltd. increased its Baidu stake by 11.1% in the fourth quarter, adding 27,300 shares to bring its total to 273,721 shares worth about $35.76 million.
• Baidu continues to attract institutional interest, with several other funds also boosting or initiating positions, including large stakes from RPD Fund Management, Bank of America, and Schroder Investment Management.
• Analyst sentiment remains mixed but mostly positive: the stock has a consensus rating of Moderate Buy with a price target of $158.05, though some firms have recently trimmed targets or downgraded the shares.

Nan Fung Trinity HK Ltd. raised its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 273,721 shares of the information services provider's stock after purchasing an additional 27,300 shares during the period. Baidu accounts for approximately 2.8% of Nan Fung Trinity HK Ltd.'s holdings, making the stock its 6th biggest position. Nan Fung Trinity HK Ltd. owned 0.08% of Baidu worth $35,764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RPD Fund Management LLC raised its position in shares of Baidu by 161.6% during the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider's stock valued at $107,959,000 after buying an additional 777,570 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Baidu during the 3rd quarter valued at about $165,334,000. Bank of America Corp DE raised its position in shares of Baidu by 106.7% during the 3rd quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider's stock valued at $148,804,000 after buying an additional 582,832 shares in the last quarter. Capital World Investors raised its position in shares of Baidu by 0.5% during the 3rd quarter. Capital World Investors now owns 977,817 shares of the information services provider's stock valued at $128,847,000 after buying an additional 5,343 shares in the last quarter. Finally, Contrarius Group Holdings Ltd raised its position in shares of Baidu by 500.3% during the 3rd quarter. Contrarius Group Holdings Ltd now owns 891,749 shares of the information services provider's stock valued at $117,506,000 after buying an additional 743,205 shares in the last quarter.

Baidu Stock Performance

Baidu stock opened at $141.05 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.76 and a quick ratio of 1.76. Baidu, Inc. has a 1-year low of $81.17 and a 1-year high of $165.30. The firm has a market capitalization of $47.99 billion, a P/E ratio of 88.71 and a beta of 0.53. The company's 50-day moving average is $119.96 and its 200 day moving average is $128.10.

Analyst Upgrades and Downgrades

BIDU has been the topic of several recent research reports. Citigroup restated a "buy" rating on shares of Baidu in a research report on Tuesday, January 13th. UBS Group restated a "buy" rating on shares of Baidu in a research report on Wednesday, February 4th. Morgan Stanley decreased their target price on shares of Baidu from $150.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Friday, February 27th. Wall Street Zen upgraded shares of Baidu from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Zacks Research cut shares of Baidu from a "hold" rating to a "strong sell" rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $158.05.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China's leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.

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