Long Corridor Asset Management Ltd Invests $5.06 Million in Baidu, Inc. (NASDAQ:BIDU)

Long Corridor Asset Management Ltd purchased a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 60,000 shares of the information services provider's stock, valued at approximately $5,059,000. Baidu accounts for about 3.8% of Long Corridor Asset Management Ltd's investment portfolio, making the stock its 8th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Sanders Capital LLC boosted its stake in Baidu by 0.7% during the third quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider's stock valued at $274,357,000 after buying an additional 18,334 shares during the period. Appaloosa LP raised its holdings 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 acquiring an additional 102,909 shares in the last quarter. CoreView Capital Management Ltd boosted its position 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 acquiring an additional 166,618 shares during the last quarter. North of South Capital LLP grew its holdings in shares of Baidu by 18.9% during the fourth 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 in the last quarter. Finally, Maple Rock Capital Partners Inc. bought a new position in shares of Baidu in the third quarter worth approximately $42,748,000.

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Baidu Trading Down 5.1 %

Shares of Baidu stock traded down $5.05 during trading on Friday, reaching $93.37. 6,535,625 shares of the stock were exchanged, compared to its average volume of 4,010,218. 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 firm has a market cap of $32.74 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47. Baidu, Inc. has a 1 year low of $77.20 and a 1 year high of $116.25. The stock's fifty day moving average is $91.61 and its 200 day moving average is $90.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BIDU shares. Citigroup dropped their target price on shares of Baidu from $142.00 to $141.00 and set a "buy" rating for the company in a research report on Friday, November 29th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Baidu in a report on Saturday, March 8th. Mizuho increased their target price on Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. StockNews.com downgraded Baidu from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Daiwa Capital Markets reiterated an "outperform" rating on shares of Baidu in a report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $111.25.

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.