Pzena Investment Management LLC Acquires 20,550 Shares of Baidu, Inc. (NASDAQ:BIDU)

Pzena Investment Management LLC raised its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 6.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 330,131 shares of the information services provider’s stock after acquiring an additional 20,550 shares during the period. Pzena Investment Management LLC owned approximately 0.09% of Baidu worth $34,759,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BIDU. Janney Montgomery Scott LLC bought a new position in Baidu in the first quarter valued at about $209,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Baidu by 96.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 36,602 shares of the information services provider’s stock worth $3,969,000 after purchasing an additional 17,994 shares during the period. Pitcairn Co. bought a new stake in Baidu in the 1st quarter valued at about $535,000. Natixis raised its position in shares of Baidu by 373.8% during the first quarter. Natixis now owns 26,393 shares of the information services provider’s stock worth $2,779,000 after purchasing an additional 20,822 shares during the period. Finally, Crewe Advisors LLC acquired a new position in Baidu during the first quarter worth $31,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BIDU. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a report on Friday, October 25th. HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Tuesday, September 24th. Bank of America lowered their price target on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Hsbc Global Res downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Susquehanna reduced their target price on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a report on Thursday, September 5th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.29.

Baidu Price Performance

Shares of BIDU traded up $0.55 during midday trading on Wednesday, reaching $86.57. The stock had a trading volume of 644,254 shares, compared to its average volume of 3,594,502. The company has a market capitalization of $30.36 billion, a price-to-earnings ratio of 11.33 and a beta of 0.51. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 12-month low of $79.68 and a 12-month high of $126.23. The company’s 50-day moving average is $93.76 and its 200 day moving average is $93.01.

Baidu Company Profile

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.