Barometer Capital Management Inc. Cuts Holdings in Baidu, Inc. $BIDU

Barometer Capital Management Inc. lowered its position in Baidu, Inc. (NASDAQ:BIDU) by 80.7% in the first quarter, HoldingsChannel reports. The fund owned 13,625 shares of the information services provider’s stock after selling 57,060 shares during the quarter. Barometer Capital Management Inc.’s holdings in Baidu were worth $1,518,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Binnacle Investments Inc acquired a new stake in shares of Baidu during the 2nd quarter valued at about $29,000. Sankala Group LLC acquired a new position in Baidu in the 4th quarter worth about $46,000. Brown Brothers Harriman & Co. boosted its position in Baidu by 35.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock worth $53,000 after purchasing an additional 105 shares in the last quarter. UMB Bank n.a. grew its holdings in Baidu by 25.9% in the fourth quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock valued at $56,000 after purchasing an additional 88 shares during the period. Finally, Winthrop Capital Management LLC purchased a new stake in shares of Baidu in the fourth quarter valued at approximately $59,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BIDU shares. Nomura upped their target price on Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Barclays dropped their target price on shares of Baidu from $128.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, July 13th. BNP Paribas Exane assumed coverage on shares of Baidu in a research note on Wednesday, April 1st. They set an “outperform” rating and a $161.00 target price for the company. Susquehanna raised their price target on shares of Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Finally, Benchmark reiterated a “buy” rating and issued a $215.00 price objective on shares of Baidu in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.33.

Baidu Trading Down 1.4%

Shares of BIDU opened at $108.22 on Wednesday. Baidu, Inc. has a 52-week low of $84.64 and a 52-week high of $165.30. The stock has a market cap of $36.82 billion, a PE ratio of -901.76, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56. The firm’s fifty day moving average is $120.47 and its two-hundred day moving average is $127.89. 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 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.