SIH Partners LLLP Acquires New Position in Baidu, Inc. (NASDAQ:BIDU)

SIH Partners LLLP bought a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 92,164 shares of the information services provider’s stock, valued at approximately $7,970,000. Baidu accounts for about 7.7% of SIH Partners LLLP’s investment portfolio, making the stock its 5th largest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of BIDU. Nordea Investment Management AB boosted its stake in Baidu by 14.5% during the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock worth $42,125,000 after buying an additional 50,599 shares during the period. SRN Advisors LLC lifted its stake in Baidu by 111.5% during the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock worth $1,652,000 after purchasing an additional 8,272 shares in the last quarter. Perpetual Ltd boosted its position in shares of Baidu by 45.4% during the first quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock worth $15,451,000 after buying an additional 45,975 shares during the period. SPX Gestao de Recursos Ltda purchased a new position in shares of Baidu during the fourth quarter worth $11,028,000. Finally, Bryn Mawr Capital Management LLC acquired a new stake in shares of Baidu in the first quarter valued at $216,000.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BIDU shares. Hsbc Global Res cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday. HSBC lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Tuesday. Loop Capital cut their target price on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Bank of America decreased their price target on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Finally, Benchmark cut their price objective on Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.13.

Baidu Stock Up 2.5 %

Shares of NASDAQ:BIDU opened at $105.17 on Friday. The firm has a 50 day simple moving average of $86.79 and a 200-day simple moving average of $95.19. Baidu, Inc. has a twelve month low of $79.68 and a twelve month high of $136.53. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $36.88 billion, a PE ratio of 14.08 and a beta of 0.48.

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.