Tremblant Capital Group Has $3.90 Million Holdings in Baidu, Inc. (NASDAQ:BIDU)

Tremblant Capital Group trimmed its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 62.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,304 shares of the information services provider's stock after selling 78,433 shares during the period. Tremblant Capital Group's holdings in Baidu were worth $3,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Rialto Wealth Management LLC bought a new stake in shares of Baidu during the 4th quarter worth $42,000. Sycomore Asset Management acquired a new position in Baidu in the 4th quarter valued at approximately $51,000. GeoWealth Management LLC raised its holdings in Baidu by 88.5% in the 4th 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 in the last quarter. Savvy Advisors Inc. acquired a new position in Baidu in the 4th quarter valued at approximately $232,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Baidu in the 4th quarter valued at approximately $256,000.

Baidu Trading Down 1.6%

Shares of NASDAQ:BIDU traded down $1.41 during midday trading on Thursday, hitting $84.07. The company had a trading volume of 4,421,326 shares, compared to its average volume of 4,141,816. 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 stock has a market cap of $29.04 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 2.96 and a beta of 0.37. The firm has a fifty day simple moving average of $88.70 and a 200 day simple moving average of $87.96.

Analyst Upgrades and Downgrades

BIDU has been the topic of several analyst reports. Nomura Securities lowered Baidu from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Daiwa Capital Markets restated an "outperform" rating on shares of Baidu in a research report on Tuesday, February 18th. Nomura lowered Baidu from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Baidu in a report on Saturday, March 8th. Finally, Wall Street Zen downgraded Baidu from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Baidu presently has a consensus rating of "Hold" and a consensus target price of $107.82.

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.