Contrarius Group Holdings Ltd Buys New Position in Baidu, Inc. (NASDAQ:BIDU)

Contrarius Group Holdings Ltd purchased a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 324,141 shares of the information services provider's stock, valued at approximately $27,328,000. Baidu makes up about 1.7% of Contrarius Group Holdings Ltd's investment portfolio, making the stock its 18th largest holding. Contrarius Group Holdings Ltd owned 0.09% of Baidu at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Tejara Capital Ltd acquired a new stake in Baidu during the 4th quarter valued at $2,335,000. Natixis Advisors LLC increased its position in Baidu by 123.3% during the 4th quarter. Natixis Advisors LLC now owns 37,556 shares of the information services provider's stock worth $3,166,000 after purchasing an additional 20,734 shares in the last quarter. Monaco Asset Management SAM raised its stake in Baidu by 48.7% in the 4th quarter. Monaco Asset Management SAM now owns 181,371 shares of the information services provider's stock valued at $15,291,000 after purchasing an additional 59,401 shares during the last quarter. Appaloosa LP lifted its holdings in 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. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Baidu during the fourth quarter worth about $615,000.

Baidu Trading Up 1.4 %

Shares of Baidu stock traded up $1.33 during trading hours on Monday, hitting $95.87. The company's stock had a trading volume of 3,222,666 shares, compared to its average volume of 3,966,182. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $33.62 billion, a PE ratio of 10.45, a P/E/G ratio of 2.96 and a beta of 0.47. The business has a fifty day moving average of $90.41 and a 200 day moving average of $90.04. Baidu, Inc. has a 1-year low of $77.20 and a 1-year high of $116.25.

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Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Susquehanna downgraded Baidu from a "positive" rating to a "neutral" rating and lowered their price objective for the company from $105.00 to $85.00 in a research report on Monday, November 25th. China Renaissance downgraded Baidu from a "buy" rating to a "hold" rating and set a $86.00 target price on the stock. in a research report on Monday, November 25th. Benchmark reissued a "buy" rating and issued a $130.00 price target on shares of Baidu in a research note on Wednesday, February 19th. Finally, Mizuho upped their price objective on shares of Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.