Clearline Capital LP Makes New Investment in Baidu, Inc. $BIDU

Clearline Capital LP purchased a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 67,036 shares of the information services provider’s stock, valued at approximately $8,833,000.

Several other large investors have also made changes to their positions in the business. Blue Trust Inc. lifted its position in shares of Baidu by 2.0% in the third quarter. Blue Trust Inc. now owns 4,378 shares of the information services provider’s stock valued at $577,000 after acquiring an additional 85 shares in the last quarter. State of Wyoming grew its position in shares of Baidu by 13.2% during the third quarter. State of Wyoming now owns 857 shares of the information services provider’s stock worth $113,000 after purchasing an additional 100 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Baidu by 11.6% during the third quarter. Parallel Advisors LLC now owns 1,043 shares of the information services provider’s stock worth $137,000 after purchasing an additional 108 shares in the last quarter. Silver Oak Securities Incorporated raised its stake in Baidu by 4.0% during the 3rd quarter. Silver Oak Securities Incorporated now owns 2,969 shares of the information services provider’s stock valued at $391,000 after purchasing an additional 114 shares during the period. Finally, UMB Bank n.a. raised its stake in Baidu by 65.0% during the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 134 shares during the period.

Baidu Stock Performance

NASDAQ BIDU opened at $124.07 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.76 and a quick ratio of 1.91. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $165.30. The business has a 50 day simple moving average of $140.63 and a two-hundred day simple moving average of $128.59. The stock has a market capitalization of $42.86 billion, a PE ratio of 78.03 and a beta of 0.32.

Analyst Ratings Changes

Several research firms have weighed in on BIDU. The Goldman Sachs Group upped their price target on Baidu from $154.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Barclays reduced their price objective on shares of Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 5th. Citigroup reissued a “buy” rating on shares of Baidu in a report on Tuesday, January 13th. Bank of America upped their target price on shares of Baidu from $100.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Finally, Benchmark reaffirmed a “buy” rating on shares of Baidu in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Baidu currently has a consensus rating of “Moderate Buy” and an average target price of $157.89.

Baidu 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.