Long Corridor Asset Management Ltd Invests $5.06 Million in Baidu, Inc. (NASDAQ:BIDU)

Long Corridor Asset Management Ltd purchased a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 60,000 shares of the information services provider’s stock, valued at approximately $5,059,000. Baidu makes up approximately 3.8% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 8th largest holding.

A number of other large investors also recently modified their holdings of BIDU. LPL Financial LLC lifted its holdings in shares of Baidu by 5.9% in the 4th quarter. LPL Financial LLC now owns 74,597 shares of the information services provider’s stock worth $6,289,000 after purchasing an additional 4,178 shares during the last quarter. Virtu Financial LLC raised its holdings in shares of Baidu by 146.5% during the fourth quarter. Virtu Financial LLC now owns 9,698 shares of the information services provider’s stock valued at $818,000 after buying an additional 5,763 shares during the last quarter. DCF Advisers LLC raised its stake in Baidu by 38.4% during the 4th quarter. DCF Advisers LLC now owns 47,750 shares of the information services provider’s stock valued at $4,026,000 after acquiring an additional 13,250 shares in the last quarter. Contrarius Group Holdings Ltd acquired a new stake in Baidu in the fourth quarter worth about $27,328,000. Finally, Tejara Capital Ltd bought a new position in shares of Baidu in the fourth quarter valued at approximately $2,335,000.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BIDU shares. China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a report on Monday, November 25th. Barclays boosted their target price 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. Nomura cut Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. cut shares of Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Finally, Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Baidu presently has a consensus rating of “Hold” and a consensus price target of $111.25.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $95.87 on Tuesday. The firm has a market capitalization of $33.62 billion, a PE ratio of 10.45, a PEG ratio of 2.96 and a beta of 0.47. 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 business’s 50 day moving average is $90.41 and its 200-day moving average is $90.04. Baidu, Inc. has a 1-year low of $77.20 and a 1-year high of $116.25.

Baidu Company 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.