Brandywine Global Investment Management LLC Sells 68,100 Shares of Baidu, Inc. $BIDU

Brandywine Global Investment Management LLC lowered its position in Baidu, Inc. (NASDAQ:BIDU) by 19.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 288,722 shares of the information services provider’s stock after selling 68,100 shares during the period. Brandywine Global Investment Management LLC owned 0.08% of Baidu worth $24,761,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in shares of Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock worth $30,000 after purchasing an additional 192 shares during the last quarter. Winthrop Capital Management LLC acquired a new stake in shares of Baidu in the 2nd quarter valued at $39,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Baidu in the 2nd quarter valued at $43,000. CX Institutional boosted its holdings in Baidu by 34.1% in the second quarter. CX Institutional now owns 715 shares of the information services provider’s stock worth $61,000 after purchasing an additional 182 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Baidu by 17.0% during the second quarter. Parallel Advisors LLC now owns 935 shares of the information services provider’s stock worth $80,000 after buying an additional 136 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Zacks Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. Dbs Bank raised Baidu from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $177.00 in a report on Thursday, September 25th. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a report on Saturday. CLSA raised Baidu to a “strong-buy” rating in a research report on Monday, September 22nd. Finally, Nomura set a $140.00 price target on Baidu and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $137.11.

Baidu Trading Up 0.5%

Baidu stock opened at $110.95 on Friday. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $149.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market capitalization of $38.33 billion, a PE ratio of 10.23 and a beta of 0.43. The business’s 50-day simple moving average is $126.54 and its 200-day simple moving average is $102.29.

About Baidu

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.