Amova Asset Management Americas Inc. Grows Position in Baidu, Inc. $BIDU

Amova Asset Management Americas Inc. lifted its stake in Baidu, Inc. (NASDAQ:BIDU) by 113.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 667,639 shares of the information services provider’s stock after purchasing an additional 354,533 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Baidu were worth $87,214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIDU. Schroder Investment Management Group purchased a new position in Baidu during the 3rd quarter valued at $165,334,000. RPD Fund Management LLC boosted its holdings in Baidu by 161.6% during the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after acquiring an additional 777,570 shares during the period. Contrarius Group Holdings Ltd boosted its holdings in Baidu by 500.3% during the 3rd quarter. Contrarius Group Holdings Ltd now owns 891,749 shares of the information services provider’s stock valued at $117,506,000 after acquiring an additional 743,205 shares during the period. Bank of America Corp DE boosted its holdings in Baidu by 106.7% during the 3rd quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock valued at $148,804,000 after acquiring an additional 582,832 shares during the period. Finally, Steadfast Capital Management LP purchased a new position in Baidu during the 3rd quarter valued at $59,966,000.

Key Stories Impacting Baidu

Here are the key news stories impacting Baidu this week:

• Positive Sentiment: Baidu formally pushed back against the Pentagon’s designation, saying it is not a military company and that the inclusion is unjustified. Baidu Responds to Inclusion on U.S. CMC List
• Neutral Sentiment: Short-interest data showed no meaningful change in shares sold short, with the reported figures indicating 0 shares outstanding and a 0.0-day days-to-cover ratio, offering little new trading signal.
• Negative Sentiment: The Pentagon added Baidu to its Chinese military companies list, which can restrict access to U.S. defense contracts and increase regulatory scrutiny. Pentagon expands list of China military-linked firms to include Alibaba, Baidu in fresh blow to diplomatic thaw
• Negative Sentiment: Multiple reports echoed the same Pentagon action, reinforcing concerns that the designation could pressure Baidu shares and keep investors cautious until there is more clarity on legal or business impact. China’s Tech Giants Alibaba, Baidu, BYD Face Fresh US Scrutiny As Pentagon Expands Blacklist

Baidu Price Performance

Shares of Baidu stock opened at $121.11 on Wednesday. The business has a 50 day simple moving average of $126.30 and a two-hundred day simple moving average of $129.86. Baidu, Inc. has a 12 month low of $83.30 and a 12 month high of $165.30. The stock has a market capitalization of $41.21 billion, a P/E ratio of -1,009.17, a PEG ratio of 2.03 and a beta of 0.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BIDU shares. Susquehanna lifted their target price on Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. Zephirin Group lifted their target price on Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a research report on Monday, March 2nd. 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 for the company. Weiss Ratings lowered Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 18th. Finally, Nomura lifted their target price on Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Baidu has an average rating of “Moderate Buy” and a consensus target price of $162.58.

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.