Black Creek Investment Management Inc. Has $104.59 Million Stock Holdings in Baidu, Inc. $BIDU

Black Creek Investment Management Inc. reduced its stake in Baidu, Inc. (NASDAQ:BIDU) by 55.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 793,718 shares of the information services provider’s stock after selling 998,716 shares during the period. Baidu accounts for approximately 4.9% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 11th biggest position. Black Creek Investment Management Inc. owned approximately 0.23% of Baidu worth $104,588,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Binnacle Investments Inc bought a new stake in shares of Baidu during the 2nd quarter worth about $29,000. Winthrop Capital Management LLC acquired a new stake in Baidu during the second quarter worth approximately $39,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Baidu during the second quarter worth approximately $43,000. UMB Bank n.a. boosted its holdings in shares of Baidu by 65.0% during the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after acquiring an additional 134 shares during the period. Finally, Ameritas Advisory Services LLC grew its position in shares of Baidu by 12,400.0% in the third quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 372 shares during the last quarter.

Analyst Ratings Changes

Several analysts recently issued reports on the company. National Bank Financial upgraded Baidu to an “outperform” rating in a research note on Monday, November 24th. Zephirin Group boosted their target price on shares of Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a research report on Monday. Benchmark restated a “buy” rating on shares of Baidu in a research note on Friday, February 20th. Nomura lifted their price objective on shares of Baidu from $178.00 to $196.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Barclays boosted their price objective on shares of Baidu from $100.00 to $147.00 and gave the company an “equal weight” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.94.

Baidu Stock Down 3.9%

BIDU stock opened at $118.71 on Wednesday. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $165.30. The business has a 50-day simple moving average of $141.96 and a 200 day simple moving average of $127.04. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. The company has a market cap of $41.01 billion, a PE ratio of 74.66 and a beta of 0.32.

About Baidu

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.