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Shah Capital Management Purchases 20,000 Shares of Baidu, Inc. $BIDU

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Key Points

  • Shah Capital Management increased its holdings in Baidu, Inc. by 143.5%, acquiring an additional 20,000 shares, bringing its total to 33,935 shares valued at approximately $2.91 million.
  • Other institutional investors also showed significant interest in Baidu, with some entities, like Mirae Asset Global Investments, raising their positions by over 1,300% in the recent quarter.
  • Analysts have mixed views on Baidu, with ratings ranging from "Strong Buy" to "Sell," and a consensus price target set at $122.42.
  • MarketBeat previews the top five stocks to own by November 1st.

Shah Capital Management boosted its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 143.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 33,935 shares of the information services provider's stock after purchasing an additional 20,000 shares during the quarter. Baidu comprises about 0.6% of Shah Capital Management's holdings, making the stock its 14th biggest holding. Shah Capital Management's holdings in Baidu were worth $2,910,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Baidu by 1,377.5% in the first 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. Dimensional Fund Advisors LP increased its position in shares of Baidu by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider's stock valued at $125,338,000 after acquiring an additional 11,658 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Baidu by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,037,626 shares of the information services provider's stock worth $95,494,000 after acquiring an additional 25,834 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Baidu in the 2nd quarter worth approximately $80,618,000. Finally, Massachusetts Financial Services Co. MA lifted its position in 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 valued at $74,298,000 after acquiring an additional 615,061 shares in the last quarter.

Baidu Trading Up 2.0%

Shares of NASDAQ:BIDU opened at $144.91 on Tuesday. The stock's 50-day simple moving average is $106.18 and its two-hundred day simple moving average is $93.82. The stock has a market capitalization of $50.06 billion, a price-to-earnings ratio of 13.36 and a beta of 0.42. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $149.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BIDU. Susquehanna lifted their target price on Baidu from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Arete Research raised Baidu from a "sell" rating to a "buy" rating and set a $143.00 price objective on the stock in a research report on Tuesday, September 16th. Zephirin Group assumed coverage on Baidu in a research report on Monday, September 15th. They issued a "sell" rating and a $92.00 target price for the company. CLSA upgraded shares of Baidu to a "strong-buy" rating in a research note on Monday, September 22nd. Finally, Dbs Bank raised shares of Baidu from a "hold" rating to a "buy" rating and raised their price target for the company from $85.00 to $177.00 in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $122.42.

Get Our Latest Report on Baidu

Baidu Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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