Pzena Investment Management LLC Cuts Stock Position in Baidu, Inc. $BIDU

Pzena Investment Management LLC decreased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 69.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,828 shares of the information services provider’s stock after selling 192,607 shares during the period. Pzena Investment Management LLC’s holdings in Baidu were worth $11,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in Baidu by 2.0% during the third quarter. Blue Trust Inc. now owns 4,378 shares of the information services provider’s stock worth $577,000 after acquiring an additional 85 shares during the period. State of Wyoming grew its position in shares of Baidu by 13.2% in the third quarter. State of Wyoming now owns 857 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 100 shares during the period. Silver Oak Securities Incorporated increased its stake in shares of Baidu by 4.0% during the third quarter. Silver Oak Securities Incorporated now owns 2,969 shares of the information services provider’s stock worth $391,000 after purchasing an additional 114 shares in the last quarter. UMB Bank n.a. raised its position in shares of Baidu by 65.0% during the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after purchasing an additional 134 shares during the last quarter. Finally, Guinness Asset Management LTD raised its position in shares of Baidu by 5.1% during the 3rd quarter. Guinness Asset Management LTD now owns 2,904 shares of the information services provider’s stock worth $392,000 after purchasing an additional 142 shares during the last quarter.

Baidu Stock Down 0.6%

NASDAQ BIDU opened at $137.11 on Friday. The business’s fifty day simple moving average is $140.91 and its 200-day simple moving average is $124.24. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm has a market cap of $47.36 billion, a PE ratio of 45.55 and a beta of 0.32. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $165.30.

Wall Street Analyst Weigh In

BIDU has been the subject of several research reports. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. National Bank Financial raised Baidu to an “outperform” rating in a research note on Monday, November 24th. Morgan Stanley set a $150.00 price objective on Baidu in a research note on Tuesday, January 20th. Jefferies Financial Group raised their price objective on Baidu from $159.00 to $181.00 and gave the company a “buy” rating in a report on Friday, January 2nd. Finally, JPMorgan Chase & Co. raised shares of Baidu from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $110.00 to $188.00 in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.94.

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.