Carrhae Capital LLP Makes New $44.65 Million Investment in Baidu, Inc. $BIDU

Carrhae Capital LLP purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 341,747 shares of the information services provider’s stock, valued at approximately $44,653,000. Baidu comprises 1.7% of Carrhae Capital LLP’s holdings, making the stock its 19th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of BIDU. RPD Fund Management LLC raised its stake in Baidu by 161.6% during the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock worth $107,959,000 after purchasing an additional 777,570 shares during the period. Schroder Investment Management Group purchased a new stake in shares of Baidu in the 3rd quarter valued at approximately $165,334,000. Bank of America Corp DE increased its holdings in shares of Baidu by 106.7% during the 3rd quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock worth $148,804,000 after buying an additional 582,832 shares during the last quarter. Capital World Investors increased its holdings in shares of Baidu by 0.5% during the 3rd quarter. Capital World Investors now owns 977,817 shares of the information services provider’s stock worth $128,847,000 after buying an additional 5,343 shares during the last quarter. Finally, Contrarius Group Holdings Ltd raised its position in shares of Baidu by 500.3% during the 3rd quarter. Contrarius Group Holdings Ltd now owns 891,749 shares of the information services provider’s stock valued at $117,506,000 after buying an additional 743,205 shares during the period.

Baidu Trading Down 2.6%

NASDAQ:BIDU opened at $127.79 on Friday. Baidu, Inc. has a 12-month low of $81.17 and a 12-month high of $165.30. The firm has a market cap of $43.48 billion, a PE ratio of -1,064.83, a price-to-earnings-growth ratio of 2.21 and a beta of 0.53. The company has a current ratio of 1.85, a quick ratio of 1.76 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $123.40 and a 200 day moving average price of $129.29.

Analysts Set New Price Targets

BIDU has been the topic of a number of research analyst reports. China Renaissance upgraded Baidu from a “hold” rating to a “buy” rating and lifted their target price for the company from $134.00 to $180.00 in a research report on Tuesday, February 3rd. Weiss Ratings downgraded Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday. Susquehanna boosted their price objective on shares of Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday. Zacks Research cut shares of Baidu from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. Finally, Barclays lowered their target price on shares of Baidu from $147.00 to $128.00 and set an “equal weight” rating for the company in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Baidu presently has an average rating of “Moderate Buy” and a consensus price target of $162.58.

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.