8,500 Shares in Baidu, Inc. $BIDU Bought by Nano Cap New Millennium Growth Fund L P

Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU) in the fourth quarter, Holdings Channel reports. The firm acquired 8,500 shares of the information services provider’s stock, valued at approximately $1,111,000.

Other hedge funds have also recently made changes to their positions in the company. Yarbrough Capital LLC purchased a new stake in shares of Baidu during the 4th quarter worth $1,697,000. Earnest Partners LLC lifted its stake in shares of Baidu by 21.9% during the 3rd quarter. Earnest Partners LLC now owns 818,930 shares of the information services provider’s stock worth $107,910,000 after purchasing an additional 146,992 shares during the last quarter. ARK Investment Management LLC lifted its stake in shares of Baidu by 72.7% during the 3rd quarter. ARK Investment Management LLC now owns 508,388 shares of the information services provider’s stock worth $66,990,000 after purchasing an additional 213,941 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of Baidu during the 4th quarter worth $2,626,000. Finally, TT International Asset Management LTD purchased a new stake in shares of Baidu during the 4th quarter worth $33,727,000.

Baidu Stock Down 3.0%

Shares of BIDU stock opened at $131.18 on Friday. The stock’s 50-day simple moving average is $123.35 and its 200-day simple moving average is $129.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.76 and a current ratio of 1.85. The firm has a market capitalization of $44.63 billion, a PE ratio of -1,093.08, a P/E/G ratio of 2.28 and a beta of 0.53. Baidu, Inc. has a fifty-two week low of $81.17 and a fifty-two week high of $165.30.

Analyst Ratings Changes

BIDU has been the subject of a number of analyst reports. Weiss Ratings cut Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday. Benchmark reaffirmed a “buy” rating and set a $215.00 target price on shares of Baidu in a research report on Tuesday. BNP Paribas Exane started coverage on Baidu in a research report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 target price on the stock. Susquehanna upped their target price on Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Zephirin Group lifted their target price on shares of Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Baidu currently has an average rating of “Moderate Buy” and an average price target of $162.58.

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.