GMT Capital Corp Trims Stake in Baidu, Inc. $BIDU

GMT Capital Corp cut its stake in Baidu, Inc. (NASDAQ:BIDU) by 76.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,127 shares of the information services provider’s stock after selling 197,900 shares during the quarter. Baidu comprises about 0.4% of GMT Capital Corp’s portfolio, making the stock its 24th biggest position. GMT Capital Corp’s holdings in Baidu were worth $7,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BIDU. Binnacle Investments Inc purchased a new position in shares of Baidu in the 2nd quarter valued at $29,000. Ameritas Advisory Services LLC increased its holdings in shares of Baidu by 12,400.0% in the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after acquiring an additional 372 shares during the period. Brown Brothers Harriman & Co. increased its holdings in shares of Baidu by 35.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock valued at $53,000 after acquiring an additional 105 shares during the period. UMB Bank n.a. increased its holdings in shares of Baidu by 25.9% in the 4th quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock valued at $56,000 after acquiring an additional 88 shares during the period. Finally, Winthrop Capital Management LLC purchased a new position in shares of Baidu in the 4th quarter valued at $59,000.

Baidu Stock Performance

Shares of BIDU stock opened at $115.77 on Friday. The stock has a market cap of $39.39 billion, a PE ratio of -964.67, a price-to-earnings-growth ratio of 1.98 and a beta of 0.54. The business has a 50-day simple moving average of $126.68 and a 200-day simple moving average of $129.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. Baidu, Inc. has a 52-week low of $83.30 and a 52-week high of $165.30.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Weiss Ratings downgraded Baidu from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 18th. Zacks Research downgraded Baidu from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. BNP Paribas Exane initiated coverage on Baidu in a research report on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 price objective for the company. Susquehanna raised their price objective on Baidu from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Finally, Morgan Stanley raised their price objective on Baidu from $135.00 to $140.00 in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Baidu has an average rating of “Moderate Buy” and a consensus target price of $162.58.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.