Loomis Sayles & Co. L P Reduces Stock Position in Baidu, Inc. (NASDAQ:BIDU)

Loomis Sayles & Co. L P cut its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 251,344 shares of the information services provider’s stock after selling 6,237 shares during the period. Loomis Sayles & Co. L P owned about 0.07% of Baidu worth $21,191,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BIDU. Appaloosa LP grew its holdings in shares of Baidu by 7.2% in the fourth quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider’s stock worth $128,818,000 after acquiring an additional 102,909 shares during the period. CoreView Capital Management Ltd increased its position in shares of Baidu by 15.6% during the 3rd quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock valued at $130,221,000 after purchasing an additional 166,618 shares during the last quarter. North of South Capital LLP lifted its stake in shares of Baidu by 18.9% in the 4th quarter. North of South Capital LLP now owns 614,847 shares of the information services provider’s stock worth $51,838,000 after purchasing an additional 97,549 shares during the period. Maple Rock Capital Partners Inc. bought a new stake in Baidu during the third quarter valued at approximately $42,748,000. Finally, SG Americas Securities LLC grew its position in Baidu by 147.5% during the fourth quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock valued at $32,161,000 after buying an additional 227,338 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BIDU. Benchmark reiterated a “buy” rating and set a $130.00 price target on shares of Baidu in a research note on Wednesday, February 19th. Nomura downgraded Baidu from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. Mizuho raised their price objective on Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Barclays boosted their price objective on Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Finally, StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $111.25.

Baidu Trading Down 5.1 %

Shares of Baidu stock opened at $93.37 on Friday. Baidu, Inc. has a twelve month low of $77.20 and a twelve month high of $116.25. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $91.61 and a 200-day moving average price of $90.33. The firm has a market cap of $32.74 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 2.96 and a beta of 0.47.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.