Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Bamco Inc. NY

Posted by Defense World Staff on Jun 14th, 2023

Bamco Inc. NY lowered its stake in Baidu, Inc. (NASDAQ:BIDU – Get Rating) by 25.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 739,412 shares of the information services provider’s stock after selling 251,160 shares during the quarter. Bamco Inc. NY owned about 0.21% of Baidu worth $84,574,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BIDU. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Baidu by 134.8% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 162,243 shares of the information services provider’s stock worth $21,586,000 after purchasing an additional 93,158 shares during the period. Natixis Advisors L.P. acquired a new stake in Baidu in the first quarter worth about $1,343,000. Cibc World Market Inc. lifted its holdings in Baidu by 25.8% in the first quarter. Cibc World Market Inc. now owns 5,499 shares of the information services provider’s stock worth $728,000 after purchasing an additional 1,127 shares during the period. Ergoteles LLC acquired a new stake in Baidu in the first quarter worth about $5,593,000. Finally, Mackenzie Financial Corp lifted its holdings in Baidu by 9.0% in the first quarter. Mackenzie Financial Corp now owns 139,904 shares of the information services provider’s stock worth $18,509,000 after purchasing an additional 11,518 shares during the period. Institutional investors and hedge funds own 23.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BIDU. Mizuho cut their price target on shares of Baidu from $190.00 to $170.00 in a report on Tuesday, May 9th. OTR Global raised shares of Baidu to a “positive” rating in a report on Thursday, May 11th. Loop Capital upped their price target on shares of Baidu from $167.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, March 28th. StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a report on Thursday, May 25th. Finally, Daiwa Capital Markets upped their price target on shares of Baidu from $200.00 to $215.00 in a report on Monday, April 3rd. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.00.

Baidu Price Performance

Shares of BIDU opened at $142.57 on Wednesday. The company has a market capitalization of $49.26 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 0.33 and a beta of 0.67. Baidu, Inc. has a fifty-two week low of $73.58 and a fifty-two week high of $160.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.94 and a quick ratio of 2.94. The business’s 50-day moving average is $127.77 and its 200-day moving average is $131.67.

Baidu declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 22nd that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Baidu Profile

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Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Bamco Inc. NY

Analyst Upgrades and Downgrades

Baidu Price Performance

Baidu Profile

Further Reading

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