Carrhae Capital LLP Invests $44.65 Million in Baidu, Inc. $BIDU

Carrhae Capital LLP bought a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 341,747 shares of the information services provider’s stock, valued at approximately $44,653,000. Baidu accounts for about 1.7% of Carrhae Capital LLP’s portfolio, making the stock its 19th largest position. Carrhae Capital LLP owned approximately 0.10% of Baidu as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BIDU. Binnacle Investments Inc purchased a new position in Baidu during the second quarter worth approximately $29,000. UMB Bank n.a. increased its position in shares of Baidu by 65.0% in the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock valued at $45,000 after buying an additional 134 shares in the last quarter. Ameritas Advisory Services LLC raised its stake in shares of Baidu by 12,400.0% during the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock worth $49,000 after buying an additional 372 shares during the period. Sycomore Asset Management acquired a new position in shares of Baidu during the 3rd quarter worth approximately $79,000. Finally, Mondrian Investment Partners LTD purchased a new position in shares of Baidu during the 3rd quarter valued at approximately $80,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BIDU shares. Wall Street Zen cut shares of Baidu from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Zephirin Group increased their price objective on shares of Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a report on Monday, March 2nd. Nomura lifted their target price on shares of Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday. BNP Paribas Exane started coverage on shares of Baidu in a research note on Wednesday, April 1st. They set an “outperform” rating and a $161.00 target price for the company. Finally, Weiss Ratings downgraded shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Baidu currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.58.

Baidu Trading Down 2.6%

BIDU opened at $127.79 on Friday. The firm has a market capitalization of $43.48 billion, a price-to-earnings ratio of -1,064.83, a price-to-earnings-growth ratio of 2.21 and a beta of 0.53. The company’s 50 day simple moving average is $123.40 and its two-hundred day simple moving average is $129.29. Baidu, Inc. has a 1-year low of $81.17 and a 1-year high of $165.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.76.

Baidu Company 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.