Baidu, Inc. (NASDAQ:BIDU) Stock Holdings Trimmed by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 257,581 shares of the information services provider’s stock after selling 8,442 shares during the period. Loomis Sayles & Co. L P owned about 0.07% of Baidu worth $27,121,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA lifted its stake in Baidu by 17.2% during the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock worth $1,033,238,000 after purchasing an additional 1,753,577 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Baidu by 12,065.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after buying an additional 1,061,893 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Baidu by 103.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock valued at $51,192,000 after buying an additional 295,700 shares during the period. XY Capital Ltd bought a new stake in shares of Baidu during the 2nd quarter valued at about $23,880,000. Finally, Shah Capital Management acquired a new stake in Baidu during the second quarter worth about $14,269,000.

Baidu Stock Performance

BIDU opened at $82.67 on Tuesday. The business has a 50 day moving average price of $93.67 and a two-hundred day moving average price of $92.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The company has a market capitalization of $28.99 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.03 and a beta of 0.51. Baidu, Inc. has a 1-year low of $78.95 and a 1-year high of $126.23.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BIDU. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and decreased their target price for the company from $105.00 to $85.00 in a research note on Monday. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Bank of America cut their target price on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Loop Capital cut their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $114.92.

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.