Diametric Capital LP Buys 2,809 Shares of Baidu, Inc. (NASDAQ:BIDU)

Diametric Capital LP lifted its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 51.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,218 shares of the information services provider's stock after purchasing an additional 2,809 shares during the quarter. Diametric Capital LP's holdings in Baidu were worth $693,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Pictet Asset Management Holding SA boosted its stake in Baidu by 9.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider's stock worth $203,213,000 after buying an additional 207,966 shares in the last quarter. Appaloosa LP boosted its stake in shares of Baidu by 7.2% in the 4th quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider's stock valued at $128,818,000 after purchasing an additional 102,909 shares in the last quarter. CoreView Capital Management Ltd grew its holdings in shares of Baidu by 15.6% during the 3rd quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider's stock valued at $130,221,000 after purchasing an additional 166,618 shares during the last quarter. North of South Capital LLP raised its position in Baidu by 18.9% in the 4th quarter. North of South Capital LLP now owns 614,847 shares of the information services provider's stock worth $51,838,000 after purchasing an additional 97,549 shares during the period. Finally, Maple Rock Capital Partners Inc. bought a new stake in Baidu in the third quarter worth $42,748,000.

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Baidu Stock Down 8.2 %

NASDAQ:BIDU traded down $7.37 during mid-day trading on Friday, hitting $82.43. 11,809,438 shares of the company's stock were exchanged, compared to its average volume of 4,058,332. Baidu, Inc. has a one year low of $77.20 and a one year high of $116.25. The business has a fifty day moving average price of $92.19 and a 200 day moving average price of $90.58. The company has a market cap of $28.90 billion, a PE ratio of 8.99, a P/E/G ratio of 2.96 and a beta of 0.33. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19.

Analysts Set New Price Targets

Several research analysts have recently commented on BIDU shares. StockNews.com downgraded Baidu from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Barclays upped their price objective on shares of Baidu from $83.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Nomura downgraded Baidu from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Baidu in a report on Saturday, March 8th. Finally, Daiwa Capital Markets reiterated an "outperform" rating on shares of Baidu in a research report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Baidu presently has an average rating of "Hold" and a consensus price target of $111.25.

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.