Black Creek Investment Management Inc. Cuts Position in Baidu, Inc. (NASDAQ:BIDU)

Black Creek Investment Management Inc. lowered its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 25.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,286,860 shares of the information services provider's stock after selling 777,445 shares during the quarter. Baidu makes up 9.1% of Black Creek Investment Management Inc.'s investment portfolio, making the stock its 5th largest position. Black Creek Investment Management Inc. owned about 0.65% of Baidu worth $192,805,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rialto Wealth Management LLC bought a new stake in Baidu during the fourth quarter valued at $42,000. Sycomore Asset Management purchased a new position in shares of Baidu during the fourth quarter worth about $51,000. Denver PWM LLC raised its stake in Baidu by 28.5% in the third quarter. Denver PWM LLC now owns 991 shares of the information services provider's stock valued at $104,000 after purchasing an additional 220 shares in the last quarter. Quantinno Capital Management LP bought a new stake in Baidu during the third quarter valued at approximately $201,000. Finally, Retireful LLC bought a new position in shares of Baidu in the 4th quarter worth $205,000.

Baidu Trading Up 0.1 %

NASDAQ:BIDU traded up $0.09 during mid-day trading on Friday, reaching $82.59. 2,285,728 shares of the company's stock traded hands, compared to its average volume of 4,174,362. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. The company has a 50 day moving average price of $90.08 and a 200-day moving average price of $89.62. The firm has a market capitalization of $28.96 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 2.96 and a beta of 0.33.

Analyst Upgrades and Downgrades

BIDU has been the subject of several research reports. Nomura lowered shares of Baidu from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Mizuho increased their price objective on Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Daiwa Capital Markets reaffirmed an "outperform" rating on shares of Baidu in a research note on Tuesday, February 18th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Baidu in a research report on Saturday, March 8th. Finally, Benchmark restated a "buy" rating and issued a $130.00 price objective on shares of Baidu in a report on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $111.25.

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.