Shah Capital Management Invests $14.27 Million in Baidu, Inc. (NASDAQ:BIDU)

Shah Capital Management purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 165,000 shares of the information services provider’s stock, valued at approximately $14,269,000. Baidu comprises approximately 3.1% of Shah Capital Management’s investment portfolio, making the stock its 8th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. increased its position in shares of Baidu by 0.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock valued at $3,498,000 after purchasing an additional 99 shares during the last quarter. Guinness Asset Management LTD increased its holdings in Baidu by 4.4% during the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after buying an additional 100 shares during the last quarter. Kingsview Wealth Management LLC raised its position in Baidu by 5.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock worth $239,000 after acquiring an additional 110 shares during the period. Beacon Financial Group boosted its stake in Baidu by 7.2% in the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after acquiring an additional 128 shares during the last quarter. Finally, Ignite Planners LLC grew its position in shares of Baidu by 3.8% during the 1st quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock valued at $411,000 after acquiring an additional 139 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently commented on BIDU. Bank of America dropped their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Loop Capital dropped their price target on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Jefferies Financial Group decreased their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Barclays cut their target price on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Baidu presently has a consensus rating of “Moderate Buy” and an average price target of $135.13.

Baidu Price Performance

Baidu stock opened at $85.39 on Wednesday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $87.07 and a 200 day simple moving average of $95.49. The stock has a market cap of $29.94 billion, a price-to-earnings ratio of 11.43 and a beta of 0.48. Baidu, Inc. has a 52 week low of $79.68 and a 52 week high of $136.53.

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.