Black Creek Investment Management Inc. Buys 98,837 Shares of Baidu, Inc. $BIDU

Black Creek Investment Management Inc. boosted its stake in Baidu, Inc. (NASDAQ:BIDU) by 12.5% during the 4th quarter, HoldingsChannel reports. The fund owned 892,555 shares of the information services provider’s stock after buying an additional 98,837 shares during the period. Baidu comprises 5.8% of Black Creek Investment Management Inc.’s portfolio, making the stock its 8th largest position. Black Creek Investment Management Inc.’s holdings in Baidu were worth $116,621,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new stake in Baidu during the first quarter valued at $334,000. EverSource Wealth Advisors LLC increased its stake in Baidu by 71.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $101,000 after purchasing an additional 493 shares during the last quarter. Guggenheim Capital LLC increased its stake in Baidu by 53.3% during the second quarter. Guggenheim Capital LLC now owns 9,670 shares of the information services provider’s stock valued at $829,000 after purchasing an additional 3,362 shares during the last quarter. First Trust Advisors LP increased its stake in Baidu by 2.6% during the second quarter. First Trust Advisors LP now owns 50,033 shares of the information services provider’s stock valued at $4,291,000 after purchasing an additional 1,259 shares during the last quarter. Finally, Flow Traders U.S. LLC bought a new stake in Baidu during the second quarter valued at $254,000.

Analysts Set New Price Targets

BIDU has been the subject of several recent research reports. Wall Street Zen upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research note on Monday, May 25th. Nomura boosted their target price on shares of Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Susquehanna boosted their target price 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. Weiss Ratings lowered shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Finally, Zacks Research lowered shares of Baidu from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $162.58.

Baidu Stock Down 0.3%

Baidu stock opened at $115.77 on Friday. The company has a 50-day simple moving average of $126.68 and a 200-day simple moving average of $129.85. The firm has a market capitalization of $39.39 billion, a P/E ratio of -964.67, a P/E/G ratio of 1.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85. Baidu, Inc. has a one year low of $83.30 and a one year high of $165.30.

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.