Monaco Asset Management SAM Has $22.67 Million Stake in Baidu, Inc. (NASDAQ:BIDU)

Monaco Asset Management SAM increased its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 35.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 246,371 shares of the information services provider’s stock after buying an additional 65,000 shares during the period. Baidu accounts for approximately 4.6% of Monaco Asset Management SAM’s holdings, making the stock its 3rd biggest position. Monaco Asset Management SAM owned about 0.07% of Baidu worth $22,674,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in Baidu during the first quarter worth about $922,000. Janney Montgomery Scott LLC acquired a new stake in shares of Baidu during the 1st quarter worth approximately $274,000. Ameriprise Financial Inc. increased its position in shares of Baidu by 7.5% during the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider’s stock valued at $3,874,000 after purchasing an additional 3,200 shares during the period. Diametric Capital LP raised its stake in shares of Baidu by 51.9% in the fourth quarter. Diametric Capital LP now owns 8,218 shares of the information services provider’s stock valued at $693,000 after purchasing an additional 2,809 shares in the last quarter. Finally, Cantor Fitzgerald L. P. lifted its position in Baidu by 1,510.9% in the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider’s stock worth $33,722,000 after purchasing an additional 375,145 shares during the period.

Analyst Upgrades and Downgrades

BIDU has been the topic of several recent research reports. Barclays decreased their target price on shares of Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, July 18th. Citigroup increased their target price on Baidu from $138.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Benchmark cut their target price on Baidu from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Macquarie reiterated a “neutral” rating on shares of Baidu in a research report on Wednesday, May 21st. Finally, Jefferies Financial Group reduced their target price on shares of Baidu from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $105.09.

Baidu Stock Down 2.9%

Shares of Baidu stock opened at $86.80 on Wednesday. The company has a market capitalization of $29.99 billion, a P/E ratio of 8.61 and a beta of 0.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29. The business has a 50-day moving average of $86.71 and a two-hundred day moving average of $88.17. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $116.25.

About Baidu

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.