Pzena Investment Management LLC Has $26.96 Million Stake in Baidu, Inc. (NASDAQ:BIDU)

Pzena Investment Management LLC lowered its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 3.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 319,787 shares of the information services provider’s stock after selling 10,344 shares during the period. Pzena Investment Management LLC’s holdings in Baidu were worth $26,961,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in Baidu during the 4th quarter valued at about $42,000. Sycomore Asset Management acquired a new position in Baidu during the 4th quarter valued at about $51,000. World Investment Advisors LLC acquired a new position in Baidu during the 3rd quarter valued at about $72,000. Transamerica Financial Advisors Inc. acquired a new position in Baidu during the 3rd quarter valued at about $82,000. Finally, Denver PWM LLC boosted its stake in Baidu by 28.5% during the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock valued at $104,000 after purchasing an additional 220 shares during the last quarter.

Baidu Trading Down 2.3 %

NASDAQ:BIDU opened at $92.59 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $32.47 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47. The firm’s 50 day moving average is $87.55 and its 200 day moving average is $89.18. Baidu, Inc. has a 12 month low of $77.20 and a 12 month high of $116.25.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BIDU. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and cut their target price for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Nomura Securities downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Barclays boosted their target price on Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. 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 note on Monday, November 25th. Finally, Nomura downgraded Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Baidu presently has a consensus rating of “Hold” and a consensus price target of $111.25.

About Baidu

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.