Pzena Investment Management LLC Reduces Stock Position in Baidu, Inc. (NASDAQ:BIDU)

Pzena Investment Management LLC reduced its holdings in shares of Baidu, Inc. (NASDAQ:BIDUFree Report) by 8.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 244,291 shares of the information services provider’s stock after selling 22,669 shares during the quarter. Pzena Investment Management LLC’s holdings in Baidu were worth $29,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Raymond James & Associates boosted its holdings in Baidu by 6.7% in the 3rd quarter. Raymond James & Associates now owns 5,996 shares of the information services provider’s stock valued at $806,000 after purchasing an additional 375 shares during the period. Private Advisor Group LLC boosted its holdings in Baidu by 9.7% in the 3rd quarter. Private Advisor Group LLC now owns 4,000 shares of the information services provider’s stock valued at $537,000 after purchasing an additional 355 shares during the period. SteelPeak Wealth LLC boosted its holdings in Baidu by 89.1% in the 3rd quarter. SteelPeak Wealth LLC now owns 4,240 shares of the information services provider’s stock valued at $570,000 after purchasing an additional 1,998 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Baidu in the 3rd quarter valued at $492,000. Finally, Signaturefd LLC boosted its holdings in Baidu by 7.0% in the 3rd quarter. Signaturefd LLC now owns 3,375 shares of the information services provider’s stock valued at $453,000 after purchasing an additional 220 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup cut their price target on shares of Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Morgan Stanley cut shares of Baidu from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $140.00 to $125.00 in a research report on Friday, May 17th. Mizuho lowered their price objective on shares of Baidu from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Benchmark restated a “buy” rating and set a $180.00 price objective on shares of Baidu in a research report on Friday, May 17th. Finally, Barclays lowered their price objective on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $162.00.

Check Out Our Latest Analysis on Baidu

Baidu Trading Up 0.0 %

NASDAQ:BIDU traded up $0.02 during trading hours on Thursday, reaching $102.43. The company’s stock had a trading volume of 1,298,405 shares, compared to its average volume of 3,441,631. The firm has a market capitalization of $35.92 billion, a price-to-earnings ratio of 13.71 and a beta of 0.68. The firm has a 50-day simple moving average of $104.69 and a 200-day simple moving average of $108.21. Baidu, Inc. has a 1 year low of $94.25 and a 1 year high of $156.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.01 and a current ratio of 2.79.

Baidu Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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