Ovata Capital Management Ltd Buys New Shares in Baidu, Inc. $BIDU

Ovata Capital Management Ltd bought a new position in Baidu, Inc. (NASDAQ:BIDU) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,000 shares of the information services provider’s stock, valued at approximately $685,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Binnacle Investments Inc acquired a new position in shares of Baidu in the second quarter valued at about $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Baidu in the second quarter worth about $43,000. UMB Bank n.a. lifted its holdings in shares of Baidu by 65.0% during the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after purchasing an additional 134 shares during the period. Ameritas Advisory Services LLC lifted its holdings in shares of 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 purchasing an additional 372 shares during the period. Finally, Mondrian Investment Partners LTD purchased a new stake in Baidu in the third quarter valued at approximately $80,000.

Baidu Stock Down 0.9%

Shares of BIDU stock opened at $120.69 on Wednesday. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $165.30. The stock has a market cap of $41.69 billion, a P/E ratio of 75.91 and a beta of 0.33. The stock has a 50 day moving average of $139.56 and a 200 day moving average of $129.26. The company has a current ratio of 1.76, a quick ratio of 1.91 and a debt-to-equity ratio of 0.22.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Baidu from $154.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Zephirin Group upped their price objective on shares of Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a report on Monday, March 2nd. Barclays cut their price objective on shares of Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th. Jefferies Financial Group raised their target price on shares of Baidu from $159.00 to $181.00 and gave the stock a “buy” rating in a report on Friday, January 2nd. Finally, Citigroup restated a “buy” rating on shares of Baidu in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.