Black Creek Investment Management Inc. Has $104.59 Million Stock Position in Baidu, Inc. $BIDU

Black Creek Investment Management Inc. lessened its holdings in Baidu, Inc. (NASDAQ:BIDU) by 55.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 793,718 shares of the information services provider’s stock after selling 998,716 shares during the quarter. Baidu accounts for approximately 4.9% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 11th biggest position. Black Creek Investment Management Inc.’s holdings in Baidu were worth $104,588,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Binnacle Investments Inc bought a new stake in shares of Baidu during the 2nd quarter worth $29,000. Winthrop Capital Management LLC acquired a new position in Baidu during the second quarter worth about $39,000. Mizuho Securities Co. Ltd. acquired a new position in Baidu during the second quarter worth about $43,000. UMB Bank n.a. lifted its holdings in shares of 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 during the last quarter. Finally, Ameritas Advisory Services LLC boosted its stake in shares of Baidu by 12,400.0% in the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 372 shares in the last quarter.

Analyst Upgrades and Downgrades

BIDU has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Baidu from $154.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft raised Baidu from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Baidu in a research note on Monday, December 29th. Morgan Stanley decreased their price target on shares of Baidu from $150.00 to $135.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Finally, National Bank Financial raised Baidu to an “outperform” rating in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Baidu currently has a consensus rating of “Moderate Buy” and an average price target of $158.94.

Baidu Price Performance

BIDU stock opened at $118.71 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm has a market cap of $41.01 billion, a price-to-earnings ratio of 74.66 and a beta of 0.32. The company’s fifty day simple moving average is $141.96 and its 200 day simple moving average is $127.04. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $165.30.

About Baidu

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.