Hound Partners LLC Purchases New Shares in Baidu, Inc. (NASDAQ:BIDU)

Hound Partners LLC purchased a new stake in Baidu, Inc. (NASDAQ:BIDU) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 19,000 shares of the information services provider’s stock, valued at approximately $4,133,000.

Several other institutional investors have also added to or reduced their stakes in BIDU. Norges Bank bought a new position in shares of Baidu in the fourth quarter valued at about $759,660,000. Morgan Stanley raised its holdings in shares of Baidu by 123.4% in the fourth quarter. Morgan Stanley now owns 5,301,616 shares of the information services provider’s stock valued at $1,146,421,000 after buying an additional 2,928,955 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of Baidu by 126.8% in the first quarter. ARK Investment Management LLC now owns 5,127,543 shares of the information services provider’s stock valued at $1,115,497,000 after buying an additional 2,866,767 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Baidu by 165.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,234,064 shares of the information services provider’s stock valued at $483,094,000 after buying an additional 1,392,439 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Baidu by 602.0% in the first quarter. Point72 Asset Management L.P. now owns 1,602,400 shares of the information services provider’s stock valued at $348,602,000 after buying an additional 1,374,150 shares during the last quarter. 51.68% of the stock is owned by institutional investors and hedge funds.

Shares of BIDU stock traded down $2.25 on Thursday, reaching $178.26. The company had a trading volume of 99,574 shares, compared to its average volume of 4,434,383. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $59.83 billion, a PE ratio of 8.64, a PEG ratio of 6.95 and a beta of 1.02. The stock’s 50-day simple moving average is $189.63. Baidu, Inc. has a 12 month low of $114.75 and a 12 month high of $354.82.

A number of research analysts recently issued reports on the company. Susquehanna cut their price target on Baidu from $450.00 to $250.00 and set a “positive” rating for the company in a report on Thursday, May 20th. CLSA dropped their price objective on Baidu from $350.00 to $335.00 and set a “buy” rating for the company in a report on Tuesday, May 25th. Daiwa Capital Markets assumed coverage on Baidu in a report on Wednesday, June 2nd. They set a “buy” rating and a $335.00 price objective for the company. HSBC dropped their price objective on Baidu from $374.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, May 20th. Finally, Morgan Stanley dropped their price objective on Baidu from $300.00 to $230.00 and set an “equal weight” rating for the company in a report on Thursday, May 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eighteen have issued a buy rating to the company’s stock. Baidu presently has a consensus rating of “Buy” and an average price target of $296.47.

Baidu Profile

Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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