Matthews International Capital Management LLC Makes New Investment in Baidu, Inc. $BIDU

Matthews International Capital Management LLC bought a new position in Baidu, Inc. (NASDAQ:BIDU) in the 1st quarter, HoldingsChannel.com reports. The firm bought 23,363 shares of the information services provider’s stock, valued at approximately $2,603,000. Baidu comprises approximately 1.1% of Matthews International Capital Management LLC’s portfolio, making the stock its 28th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in BIDU. Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Baidu during the 4th quarter worth approximately $2,626,000. Yarbrough Capital LLC bought a new position in shares of Baidu in the fourth quarter valued at approximately $1,697,000. Earnest Partners LLC grew its holdings in shares of Baidu by 21.9% in the third quarter. Earnest Partners LLC now owns 818,930 shares of the information services provider’s stock valued at $107,910,000 after acquiring an additional 146,992 shares in the last quarter. TT International Asset Management LTD purchased a new stake in shares of Baidu during the fourth quarter valued at approximately $33,727,000. Finally, Clearline Capital LP bought a new stake in Baidu during the third quarter worth $8,833,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BIDU. BNP Paribas Exane began coverage on Baidu in a research report on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 price objective on the stock. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Susquehanna lifted their target price on Baidu from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Morgan Stanley boosted their price target on shares of Baidu from $135.00 to $140.00 in a report on Tuesday, May 19th. Finally, Weiss Ratings lowered shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Baidu currently has a consensus rating of “Moderate Buy” and an average target price of $162.58.

Baidu Stock Performance

NASDAQ:BIDU opened at $117.53 on Monday. The company has a market capitalization of $39.99 billion, a P/E ratio of -979.34, a P/E/G ratio of 2.01 and a beta of 0.56. The business has a fifty day simple moving average of $124.22 and a two-hundred day simple moving average of $128.69. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. Baidu, Inc. has a 1 year low of $84.64 and a 1 year high of $165.30.

Baidu 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.