Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in Baidu, Inc. (NASDAQ:BIDU)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,289 shares of the information services provider's stock, valued at approximately $615,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BIDU. Maple Rock Capital Partners Inc. bought a new stake in shares of Baidu in the 3rd quarter worth approximately $42,748,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Baidu during the third quarter valued at about $36,272,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Baidu by 1,111.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider's stock valued at $30,317,000 after buying an additional 330,627 shares during the last quarter. Hhlr Advisors LTD. purchased a new position in shares of Baidu in the third quarter worth about $31,587,000. Finally, SG Americas Securities LLC lifted its stake in shares of Baidu by 147.5% in the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider's stock valued at $32,161,000 after acquiring an additional 227,338 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BIDU shares. Nomura cut Baidu from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered shares of Baidu from an "overweight" rating to a "neutral" rating in a report on Wednesday, November 27th. Barclays raised their price target on shares of Baidu from $83.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Nomura Securities cut Baidu from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Benchmark reiterated a "buy" rating and issued a $130.00 price objective on shares of Baidu in a report on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $111.25.

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Baidu Stock Up 2.2 %

Shares of NASDAQ BIDU traded up $2.12 during trading on Wednesday, reaching $97.50. The company had a trading volume of 5,077,416 shares, compared to its average volume of 3,955,662. Baidu, Inc. has a 12-month low of $77.20 and a 12-month high of $116.25. The business's 50-day moving average is $90.73 and its 200 day moving average is $90.14. The stock has a market cap of $34.19 billion, a PE ratio of 10.63, a P/E/G ratio of 2.96 and a beta of 0.47. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19.

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.