XY Capital Ltd Invests $5.56 Million in Baidu, Inc. (NASDAQ:BIDU)

Key Points

• XY Capital Ltd has acquired a new position in Baidu, Inc., purchasing 60,418 shares valued at approximately $5.56 million, making it the fund's 8th largest holding.
• Multiple institutional investors have increased their holdings in Baidu, with notable increases from Mirae Asset Global Investments growing by 1,377.5% in the first quarter.
• Analyst ratings for Baidu show a mix of "buy" and "hold" ratings, with the average target price set at $105.09, indicating a cautious outlook amidst varying price objectives from different analysts.

XY Capital Ltd bought a new position in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 60,418 shares of the information services provider's stock, valued at approximately $5,560,000. Baidu accounts for approximately 1.6% of XY Capital Ltd's holdings, making the stock its 8th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in BIDU. Creekmur Asset Management LLC acquired a new stake in shares of Baidu during the first quarter worth approximately $29,000. Assetmark Inc. boosted its holdings in shares of Baidu by 143.3% during the first quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after purchasing an additional 192 shares during the period. UMB Bank n.a. boosted its holdings in shares of Baidu by 80.3% during the first quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock worth $37,000 after purchasing an additional 179 shares during the period. CX Institutional acquired a new stake in shares of Baidu during the first quarter worth approximately $49,000. Finally, GeoWealth Management LLC boosted its holdings in shares of Baidu by 88.5% during the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock worth $55,000 after purchasing an additional 308 shares during the period.

Analysts Set New Price Targets

BIDU has been the subject of several research reports. Macquarie restated a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Benchmark reduced their target price on shares of Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Barclays reduced their target price on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research note on Friday, July 18th. Jefferies Financial Group decreased their price objective on shares of Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, Citigroup raised their target price on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Baidu presently has a consensus rating of "Hold" and an average price target of $105.09.

Baidu Stock Performance

Baidu stock traded down $0.11 on Friday, hitting $87.36. The company's stock had a trading volume of 1,976,517 shares, compared to its average volume of 4,523,904. The firm has a market cap of $30.18 billion, a P/E ratio of 8.67 and a beta of 0.34. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average price of $87.21 and a 200-day moving average price of $88.50. Baidu, Inc. has a one year low of $74.71 and a one year high of $116.25.

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.