Baidu, Inc. (NASDAQ:BIDU) Shares Acquired by Scion Asset Management LLC

Scion Asset Management LLC raised its stake in Baidu, Inc. (NASDAQ:BIDU) by 199.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 125,000 shares of the information services provider’s stock after purchasing an additional 83,300 shares during the quarter. Baidu makes up 13.6% of Scion Asset Management LLC’s holdings, making the stock its 2nd largest position. Scion Asset Management LLC’s holdings in Baidu were worth $10,539,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in Baidu in the fourth quarter valued at approximately $2,202,000. Retireful LLC bought a new stake in Baidu in the fourth quarter worth $205,000. Crossmark Global Holdings Inc. lifted its position in shares of Baidu by 14.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 15,913 shares of the information services provider’s stock worth $1,341,000 after buying an additional 2,015 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in shares of Baidu by 45.8% during the 4th quarter. Atomi Financial Group Inc. now owns 3,026 shares of the information services provider’s stock worth $255,000 after acquiring an additional 950 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Baidu by 147.5% during the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock valued at $32,161,000 after acquiring an additional 227,338 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BIDU shares. Barclays reduced their target price on Baidu from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Nomura downgraded shares of Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Benchmark reiterated a “buy” rating and issued a $130.00 target price on shares of Baidu in a report on Wednesday, February 19th. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Baidu in a research report on Saturday, March 8th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $110.83.

Baidu Stock Performance

Shares of NASDAQ:BIDU opened at $89.34 on Friday. The stock has a market capitalization of $30.86 billion, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 2.96 and a beta of 0.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $116.25. The business’s fifty day moving average price is $89.03 and its two-hundred day moving average price is $88.02.

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.