Silphium Asset Management Ltd Sells 5,530 Shares of Baidu, Inc. $BIDU

Silphium Asset Management Ltd lessened its position in Baidu, Inc. (NASDAQ:BIDU) by 30.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,500 shares of the information services provider’s stock after selling 5,530 shares during the quarter. Silphium Asset Management Ltd’s holdings in Baidu were worth $1,647,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in Baidu during the first quarter valued at $334,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Baidu by 128.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,203 shares of the information services provider’s stock worth $536,000 after buying an additional 3,482 shares during the period. Joule Financial LLC bought a new position in shares of Baidu in the 2nd quarter worth about $653,000. Capital Advisors Inc. OK purchased a new position in Baidu during the 2nd quarter valued at about $1,715,000. Finally, Shah Capital Management boosted its stake in Baidu by 143.5% during the second quarter. Shah Capital Management now owns 33,935 shares of the information services provider’s stock worth $2,910,000 after acquiring an additional 20,000 shares in the last quarter.

Baidu Stock Down 3.0%

Baidu stock opened at $148.57 on Tuesday. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $165.30. The stock has a fifty day simple moving average of $135.80 and a two-hundred day simple moving average of $119.99. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm has a market cap of $51.32 billion, a price-to-earnings ratio of 49.36 and a beta of 0.30.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BIDU shares. Barclays raised their target price on shares of Baidu from $100.00 to $147.00 and gave the company an “equal weight” rating in a research note on Monday, January 26th. Citigroup reaffirmed a “buy” rating on shares of Baidu in a research report on Tuesday, January 13th. National Bankshares raised Baidu to an “outperform” rating in a report on Monday, November 24th. JPMorgan Chase & Co. raised Baidu from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $188.00 in a research note on Monday, November 24th. Finally, Zacks Research raised Baidu from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.78.

Baidu Company 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.