Pzena Investment Management LLC Has $7.38 Million Stock Position in Baidu, Inc. $BIDU

Pzena Investment Management LLC lessened its holdings in Baidu, Inc. (NASDAQ:BIDU) by 32.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,507 shares of the information services provider’s stock after selling 27,321 shares during the period. Pzena Investment Management LLC’s holdings in Baidu were worth $7,383,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nano Cap New Millennium Growth Fund L P purchased a new stake in Baidu in the 4th quarter valued at about $1,111,000. Global Retirement Partners LLC increased its stake in Baidu by 454.7% in the 4th quarter. Global Retirement Partners LLC now owns 3,267 shares of the information services provider’s stock valued at $427,000 after buying an additional 2,678 shares during the last quarter. Fortis Group Advisors LLC increased its stake in Baidu by 13,501.3% in the 4th quarter. Fortis Group Advisors LLC now owns 10,881 shares of the information services provider’s stock valued at $1,422,000 after buying an additional 10,801 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Baidu by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,925 shares of the information services provider’s stock valued at $1,035,000 after buying an additional 324 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in Baidu by 406.0% in the 4th quarter. Larson Financial Group LLC now owns 754 shares of the information services provider’s stock valued at $98,000 after buying an additional 605 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group reiterated a “buy” rating on shares of Baidu in a research note on Wednesday, February 4th. Zacks Research lowered shares of Baidu from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. Nomura increased their price objective on shares of Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday. China Renaissance raised shares of Baidu from a “hold” rating to a “buy” rating and increased their target price for the company from $134.00 to $180.00 in a research report on Tuesday, February 3rd. Finally, Wall Street Zen downgraded shares of Baidu from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.58.

Baidu Stock Down 2.6%

Baidu stock opened at $127.79 on Friday. Baidu, Inc. has a twelve month low of $81.17 and a twelve month high of $165.30. The firm has a 50 day moving average price of $123.40 and a 200-day moving average price of $129.29. The company has a market capitalization of $43.48 billion, a P/E ratio of -1,064.83, a P/E/G ratio of 2.21 and a beta of 0.53. The company has a quick ratio of 1.76, a current ratio of 1.85 and a debt-to-equity ratio of 0.22.

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.