Logan Capital Management Inc. Raises Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

Logan Capital Management Inc. boosted its stake in Baidu, Inc. (NASDAQ:BIDUGet Rating) by 73.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,093 shares of the information services provider’s stock after buying an additional 1,309 shares during the period. Logan Capital Management Inc.’s holdings in Baidu were worth $409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dodge & Cox raised its holdings in Baidu by 8.6% in the 4th quarter. Dodge & Cox now owns 6,831,355 shares of the information services provider’s stock valued at $1,016,437,000 after buying an additional 543,004 shares during the period. State Street Corp grew its position in Baidu by 1.4% in the 4th quarter. State Street Corp now owns 5,601,587 shares of the information services provider’s stock valued at $833,460,000 after acquiring an additional 74,626 shares in the last quarter. Baillie Gifford & Co. grew its position in Baidu by 0.5% in the 1st quarter. Baillie Gifford & Co. now owns 3,746,926 shares of the information services provider’s stock valued at $495,719,000 after acquiring an additional 18,238 shares in the last quarter. Black Creek Investment Management Inc. grew its position in Baidu by 16.3% in the 1st quarter. Black Creek Investment Management Inc. now owns 3,301,560 shares of the information services provider’s stock valued at $436,796,000 after acquiring an additional 462,936 shares in the last quarter. Finally, ARGA Investment Management LP grew its position in Baidu by 57.4% in the 1st quarter. ARGA Investment Management LP now owns 2,653,659 shares of the information services provider’s stock valued at $351,079,000 after acquiring an additional 968,082 shares in the last quarter. 26.55% of the stock is currently owned by hedge funds and other institutional investors.

Baidu Stock Performance

NASDAQ BIDU opened at $138.43 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.75. Baidu, Inc. has a 1 year low of $101.62 and a 1 year high of $182.60. The company has a market capitalization of $47.83 billion, a PE ratio of -24.16, a P/E/G ratio of 1.04 and a beta of 0.66. The company has a fifty day moving average of $140.48 and a two-hundred day moving average of $137.47.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BIDU. Macquarie began coverage on Baidu in a research report on Tuesday, August 23rd. They issued an “outperform” rating and a $188.00 target price for the company. Barclays dropped their target price on Baidu from $243.00 to $235.00 and set an “overweight” rating for the company in a research report on Friday, May 27th. Daiwa Capital Markets dropped their target price on Baidu from $215.00 to $210.00 in a research report on Tuesday, July 19th. Benchmark decreased their price objective on Baidu from $330.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, May 27th. Finally, Citigroup decreased their price objective on Baidu from $223.00 to $204.00 and set a “buy” rating for the company in a research note on Wednesday, August 31st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Baidu currently has an average rating of “Moderate Buy” and a consensus target price of $219.86.

About Baidu

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Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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; and Haokan, a short video app.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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