Shah Capital Management Lowers Holdings in Baidu, Inc. $BIDU

Key Points

• Shah Capital Management has significantly reduced its stake in Baidu, Inc. by 91.5%, selling 150,721 shares and retaining only 13,935 shares, which now accounts for approximately 0.3% of its total holdings.
• Several other institutional investors have acquired or increased their positions in Baidu, including Cerity Partners LLC with a 17.5% increase and GeoWealth Management LLC raising their stake by 88.5% during the most recent quarter.
• Recent analyst ratings show mixed sentiment for Baidu, with Jefferies Financial Group lowering their price target while multiple analysts maintain a "buy" or "hold" rating, resulting in a consensus price target of $105.09.

Shah Capital Management lowered its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 91.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,935 shares of the information services provider's stock after selling 150,721 shares during the quarter. Baidu accounts for about 0.3% of Shah Capital Management's holdings, making the stock its 17th biggest position. Shah Capital Management's holdings in Baidu were worth $1,282,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BIDU. Geode Capital Management LLC lifted its holdings in Baidu by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 120,628 shares of the information services provider's stock valued at $10,170,000 after acquiring an additional 1,020 shares during the period. Cerity Partners LLC lifted its holdings in Baidu by 17.5% in the fourth quarter. Cerity Partners LLC now owns 4,281 shares of the information services provider's stock valued at $365,000 after acquiring an additional 638 shares during the period. Raymond James Financial Inc. acquired a new stake in Baidu in the fourth quarter valued at $3,497,000. GeoWealth Management LLC lifted its holdings in Baidu by 88.5% in the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock valued at $55,000 after acquiring an additional 308 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Baidu by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,350,315 shares of the information services provider's stock valued at $113,845,000 after acquiring an additional 4,236 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BIDU shares. Citigroup lifted their price target on Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. 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. Benchmark cut their price target on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday. Macquarie reaffirmed a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Finally, Jefferies Financial Group cut their price target on Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Seven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $104.64.

Baidu Price Performance

BIDU stock traded up $2.40 during trading on Friday, hitting $90.01. The stock had a trading volume of 4,244,974 shares, compared to its average volume of 3,692,164. The company's 50 day moving average price is $87.73 and its two-hundred day moving average price is $88.42. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The stock has a market cap of $31.09 billion, a price-to-earnings ratio of 8.30 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.29 and a current ratio of 1.85.

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.