Clearline Capital LP Acquires Shares of 67,036 Baidu, Inc. $BIDU

Clearline Capital LP acquired a new position in Baidu, Inc. (NASDAQ:BIDU) in the third quarter, Holdings Channel reports. The institutional investor acquired 67,036 shares of the information services provider’s stock, valued at approximately $8,833,000.

A number of other large investors have also recently made changes to their positions in BIDU. Binnacle Investments Inc purchased a new stake in shares of Baidu during the 2nd quarter valued at about $29,000. Mizuho Securities Co. Ltd. bought a new position in shares of Baidu in the 2nd quarter valued at about $43,000. UMB Bank n.a. grew its position in Baidu by 65.0% in the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after acquiring an additional 134 shares in the last quarter. Ameritas Advisory Services LLC increased its stake in Baidu by 12,400.0% during the third quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock worth $49,000 after acquiring an additional 372 shares during the last quarter. Finally, Mondrian Investment Partners LTD bought a new stake in Baidu during the third quarter worth approximately $80,000.

Baidu Stock Up 0.7%

Shares of NASDAQ BIDU opened at $124.07 on Friday. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $165.30. The firm has a 50-day simple moving average of $140.63 and a two-hundred day simple moving average of $128.59. The company has a market cap of $42.86 billion, a P/E ratio of 78.03 and a beta of 0.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.76 and a quick ratio of 1.91.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. China Renaissance upgraded Baidu from a “hold” rating to a “buy” rating and upped their price objective for the company from $134.00 to $180.00 in a research report on Tuesday, February 3rd. Susquehanna lifted their target price on Baidu from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Wall Street Zen downgraded Baidu from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Morgan Stanley decreased their price target on Baidu from $150.00 to $135.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Finally, Jefferies Financial Group lifted their price objective on shares of Baidu from $159.00 to $181.00 and gave the stock a “buy” rating in a research note on Friday, January 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.89.

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.