TT International Asset Management LTD Makes New $33.73 Million Investment in Baidu, Inc. $BIDU
by Renee Jackson · The Cerbat GemTT International Asset Management LTD bought a new position in shares of Baidu, Inc. (NASDAQ:BIDU – Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 258,923 shares of the information services provider’s stock, valued at approximately $33,727,000. Baidu accounts for approximately 7.1% of TT International Asset Management LTD’s holdings, making the stock its 4th largest position. TT International Asset Management LTD owned approximately 0.07% of Baidu as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. Keel Point LLC raised its holdings in Baidu by 1.7% during the 3rd quarter. Keel Point LLC now owns 5,144 shares of the information services provider’s stock worth $678,000 after buying an additional 84 shares during the period. Blue Trust Inc. lifted its stake in Baidu by 2.0% in the 3rd 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. Signaturefd LLC lifted its stake in Baidu by 8.4% in the 4th quarter. Signaturefd LLC now owns 1,276 shares of the information services provider’s stock valued at $167,000 after acquiring an additional 99 shares in the last quarter. State of Wyoming lifted its stake in Baidu by 13.2% in the 3rd quarter. State of Wyoming now owns 857 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 100 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Baidu by 11.6% in the 3rd quarter. Parallel Advisors LLC now owns 1,043 shares of the information services provider’s stock valued at $137,000 after acquiring an additional 108 shares in the last quarter.
Baidu Stock Up 0.2%
BIDU opened at $108.41 on Friday. Baidu, Inc. has a 1-year low of $79.13 and a 1-year high of $165.30. The stock’s fifty day simple moving average is $124.94 and its 200 day simple moving average is $128.85. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.22. The stock has a market cap of $36.89 billion, a PE ratio of 68.18 and a beta of 0.44.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Baidu in a research note on Monday, December 29th. Zephirin Group upped their price objective on Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a research note on Monday, March 2nd. Citigroup reiterated a “buy” rating on shares of Baidu in a research note on Tuesday, January 13th. Zacks Research cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Baidu has an average rating of “Moderate Buy” and a consensus price target of $158.05.
View Our Latest Analysis on Baidu
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.