Ping Capital Management Inc. Acquires 7,500 Shares of Baidu, Inc. (NASDAQ:BIDU)

Ping Capital Management Inc. boosted its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 300.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the information services provider’s stock after acquiring an additional 7,500 shares during the quarter. Ping Capital Management Inc.’s holdings in Baidu were worth $843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Baidu by 12,065.6% during the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after acquiring an additional 1,061,893 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new position in Baidu in the third quarter valued at approximately $42,748,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Baidu during the 3rd quarter worth approximately $36,272,000. Hhlr Advisors LTD. acquired a new stake in shares of Baidu during the 3rd quarter worth approximately $31,587,000. Finally, SG Americas Securities LLC increased 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 in the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on BIDU. Citigroup cut their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Mizuho reduced their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Barclays downgraded Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. cut Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Finally, StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a research report on Friday, December 27th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $113.75.

Baidu Price Performance

Shares of Baidu stock opened at $92.88 on Wednesday. The business’s 50-day moving average price is $85.75 and its 200-day moving average price is $88.54. The firm has a market capitalization of $32.57 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 2.08 and a beta of 0.46. Baidu, Inc. has a 12 month low of $77.19 and a 12 month high of $116.25. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.

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.