Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Baidu, Inc. (NASDAQ:BIDU) by 1,111.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 360,378 shares of the information services provider’s stock after buying an additional 330,627 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.10% of Baidu worth $30,317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. International Assets Investment Management LLC grew its position in Baidu by 12,065.6% in the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after acquiring an additional 1,061,893 shares in the last quarter. Maple Rock Capital Partners Inc. purchased a new position in shares of Baidu in the 3rd quarter worth approximately $42,748,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Baidu during the 3rd quarter valued at approximately $36,272,000. Hhlr Advisors LTD. purchased a new stake in Baidu during the 3rd quarter valued at $31,587,000. Finally, SG Americas Securities LLC lifted its position in Baidu by 147.5% in the fourth quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock worth $32,161,000 after buying an additional 227,338 shares during the last quarter.

Wall Street Analyst Weigh In

BIDU has been the topic of a number of analyst reports. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $85.00 in a research report on Monday, November 25th. Benchmark reissued a “buy” rating and issued a $130.00 price objective on shares of Baidu in a research report on Friday, January 24th. JPMorgan Chase & Co. lowered Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Citigroup cut their target price on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Finally, StockNews.com raised Baidu from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Baidu has an average rating of “Hold” and a consensus price target of $113.75.

Baidu Stock Performance

BIDU stock opened at $88.63 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. Baidu, Inc. has a 1-year low of $77.19 and a 1-year high of $116.25. The business has a 50-day moving average price of $85.94 and a 200 day moving average price of $88.56. The company has a market capitalization of $31.08 billion, a P/E ratio of 10.85, a PEG ratio of 2.08 and a beta of 0.46.

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.