Loomis Sayles & Co. L P Decreases Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

Loomis Sayles & Co. L P reduced its holdings in Baidu, Inc. (NASDAQ:BIDU) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 251,344 shares of the information services provider’s stock after selling 6,237 shares during the period. Loomis Sayles & Co. L P’s holdings in Baidu were worth $21,191,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC purchased a new position in Baidu in the fourth quarter worth about $42,000. Sycomore Asset Management bought a new position in shares of Baidu during the 4th quarter valued at approximately $51,000. World Investment Advisors LLC purchased a new stake in Baidu during the 3rd quarter valued at $72,000. Denver PWM LLC lifted its position in Baidu by 28.5% in the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after buying an additional 220 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new position in Baidu during the third quarter worth $201,000.

Baidu Price Performance

Shares of BIDU opened at $93.37 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.09. The company has a 50 day moving average price of $91.61 and a 200-day moving average price of $90.33. Baidu, Inc. has a fifty-two week low of $77.20 and a fifty-two week high of $116.25. The stock has a market capitalization of $32.74 billion, a PE ratio of 10.18, a PEG ratio of 2.96 and a beta of 0.47.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BIDU. Benchmark restated a “buy” rating and issued a $130.00 target price on shares of Baidu in a report on Wednesday, February 19th. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Mizuho raised their price target on Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Baidu in a research report on Saturday, March 8th. Finally, Nomura downgraded Baidu from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Baidu has an average rating of “Hold” and a consensus target price 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.