Clearline Capital LP Raises Holdings in Baidu, Inc. $BIDU

Clearline Capital LP lifted its stake in Baidu, Inc. (NASDAQ:BIDU) by 27.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,250 shares of the information services provider’s stock after buying an additional 18,214 shares during the quarter. Clearline Capital LP’s holdings in Baidu were worth $11,139,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Central Asset Investments & Management Holdings HK Ltd purchased a new position in Baidu during the fourth quarter worth approximately $2,626,000. Yarbrough Capital LLC purchased a new position in Baidu during the fourth quarter worth approximately $1,697,000. Earnest Partners LLC boosted its position in Baidu by 21.9% during the third quarter. Earnest Partners LLC now owns 818,930 shares of the information services provider’s stock worth $107,910,000 after purchasing an additional 146,992 shares in the last quarter. TT International Asset Management LTD purchased a new position in Baidu during the fourth quarter worth approximately $33,727,000. Finally, ARK Investment Management LLC boosted its position in Baidu by 72.7% during the third quarter. ARK Investment Management LLC now owns 508,388 shares of the information services provider’s stock worth $66,990,000 after purchasing an additional 213,941 shares in the last quarter.

Baidu Price Performance

NASDAQ:BIDU opened at $111.61 on Thursday. Baidu, Inc. has a one year low of $83.30 and a one year high of $165.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market cap of $37.98 billion, a PE ratio of -930.01, a P/E/G ratio of 1.92 and a beta of 0.54. The stock has a 50 day moving average price of $126.84 and a 200 day moving average price of $129.85.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BIDU. Nomura increased their price target on Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Susquehanna increased their price target on Baidu from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Benchmark reiterated a “buy” rating and set a $215.00 price target on shares of Baidu in a research report on Tuesday, May 19th. Barclays lowered their price target on Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 5th. Finally, Weiss Ratings downgraded Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.58.

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.