Polymer Capital Management HK LTD Purchases 51,910 Shares of Baidu, Inc. $BIDU

Polymer Capital Management HK LTD boosted its position in Baidu, Inc. (NASDAQ:BIDU) by 307.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,800 shares of the information services provider’s stock after purchasing an additional 51,910 shares during the quarter. Baidu comprises about 1.3% of Polymer Capital Management HK LTD’s portfolio, making the stock its 19th biggest holding. Polymer Capital Management HK LTD’s holdings in Baidu were worth $8,989,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. RPD Fund Management LLC boosted its stake in Baidu by 161.6% in the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after purchasing an additional 777,570 shares during the period. Schroder Investment Management Group acquired a new stake in shares of Baidu during the 3rd quarter worth $165,334,000. Capital World Investors grew its holdings in shares of Baidu by 21.0% during the 4th quarter. Capital World Investors now owns 1,182,857 shares of the information services provider’s stock worth $154,552,000 after purchasing an additional 205,040 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of Baidu by 127.8% during the 4th quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock worth $151,288,000 after purchasing an additional 649,490 shares in the last quarter. Finally, Bank of America Corp DE grew 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 purchasing an additional 582,832 shares in the last quarter.

Baidu Price Performance

Shares of BIDU stock opened at $115.77 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. Baidu, Inc. has a twelve month low of $83.30 and a twelve month high of $165.30. The company has a market cap of $39.39 billion, a P/E ratio of -964.67, a P/E/G ratio of 1.98 and a beta of 0.54. The business has a fifty day simple moving average of $126.68 and a 200 day simple moving average of $129.85.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Zacks Research lowered Baidu from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. Morgan Stanley increased their target price on Baidu from $135.00 to $140.00 in a report on Tuesday, May 19th. Barclays reduced their target price on Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a report on Thursday, March 5th. BNP Paribas Exane assumed coverage on Baidu in a report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 target price on the stock. Finally, Nomura increased their target price on Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. 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 given a Sell rating to the company. According to data from MarketBeat.com, Baidu presently has an average rating of “Moderate Buy” and an average price target of $162.58.

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.