Nan Fung Trinity HK Ltd. Sells 98,700 Shares of Baidu, Inc. (NASDAQ:BIDU)

Nan Fung Trinity HK Ltd. cut its position in Baidu, Inc. (NASDAQ:BIDU) by 12.1% in the fourth quarter, Holdings Channel reports. The firm owned 717,621 shares of the information services provider’s stock after selling 98,700 shares during the period. Baidu accounts for approximately 12.4% of Nan Fung Trinity HK Ltd.’s holdings, making the stock its biggest position. Nan Fung Trinity HK Ltd.’s holdings in Baidu were worth $60,503,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. North of South Capital LLP raised its position in Baidu by 18.9% in the 4th quarter. North of South Capital LLP now owns 614,847 shares of the information services provider’s stock valued at $51,838,000 after purchasing an additional 97,549 shares during the last quarter. Mcdonald Partners LLC increased its stake in Baidu by 41.8% in the fourth quarter. Mcdonald Partners LLC now owns 4,114 shares of the information services provider’s stock valued at $347,000 after purchasing an additional 1,212 shares during the period. Sycomore Asset Management acquired a new position in Baidu in the fourth quarter valued at $51,000. WCM Investment Management LLC raised its holdings in shares of Baidu by 81.4% in the fourth quarter. WCM Investment Management LLC now owns 13,666 shares of the information services provider’s stock valued at $1,149,000 after buying an additional 6,132 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in shares of Baidu by 45.4% during the fourth quarter. Bleakley Financial Group LLC now owns 5,873 shares of the information services provider’s stock worth $495,000 after buying an additional 1,835 shares during the period.

Analyst Ratings Changes

Several brokerages recently issued reports on BIDU. Benchmark restated a “buy” rating and issued a $130.00 price target on shares of Baidu in a research report on Wednesday. Nomura Securities lowered Baidu from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Mizuho upped their price target on Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday. Daiwa Capital Markets reiterated an “outperform” rating on shares of Baidu in a research report on Tuesday, February 18th. Finally, Barclays boosted their price objective on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Baidu presently has an average rating of “Hold” and an average target price of $111.25.

Baidu Stock Up 1.7 %

BIDU stock opened at $91.19 on Friday. Baidu, Inc. has a 52 week low of $77.19 and a 52 week high of $116.25. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The company has a market cap of $31.97 billion, a P/E ratio of 9.94, a P/E/G ratio of 2.91 and a beta of 0.46. The company’s 50-day moving average price is $87.08 and its 200 day moving average price is $88.93.

Baidu Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.