Granite Point Capital Management L.P. Raises Stake in Baidu Inc (BIDU)

Granite Point Capital Management L.P. lifted its position in shares of Baidu Inc (NASDAQ:BIDU) by 36.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,800 shares of the information services provider’s stock after purchasing an additional 1,800 shares during the quarter. Granite Point Capital Management L.P.’s holdings in Baidu were worth $1,555,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its position in Baidu by 29.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 328,537 shares of the information services provider’s stock valued at $79,835,000 after buying an additional 74,585 shares during the last quarter. Marshall Wace LLP raised its position in Baidu by 6,361.9% in the 2nd quarter. Marshall Wace LLP now owns 96,735 shares of the information services provider’s stock valued at $23,507,000 after buying an additional 95,238 shares during the last quarter. TCW Group Inc. purchased a new stake in Baidu in the 2nd quarter valued at $29,277,000. Guinness Asset Management Ltd raised its position in Baidu by 11.6% in the 2nd quarter. Guinness Asset Management Ltd now owns 26,840 shares of the information services provider’s stock valued at $6,523,000 after buying an additional 2,800 shares during the last quarter. Finally, MML Investors Services LLC raised its position in Baidu by 21.4% in the 3rd quarter. MML Investors Services LLC now owns 14,747 shares of the information services provider’s stock valued at $3,372,000 after buying an additional 2,604 shares during the last quarter. 62.54% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on the company. Credit Suisse Group set a $246.00 price target on Baidu and gave the company a “buy” rating in a research report on Wednesday, October 31st. ValuEngine lowered Baidu from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. BidaskClub lowered Baidu from a “sell” rating to a “strong sell” rating in a research report on Friday, August 31st. Nomura lowered their price target on Baidu from $283.00 to $206.00 and set a “neutral” rating for the company in a research report on Thursday, November 1st. Finally, Zacks Investment Research raised Baidu from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $277.15.

Shares of NASDAQ:BIDU opened at $182.61 on Friday. The firm has a market capitalization of $63.32 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 0.93 and a beta of 1.61. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.24. Baidu Inc has a 1 year low of $175.32 and a 1 year high of $284.22.

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Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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