Scion Asset Management LLC Has $6.49 Million Holdings in Baidu, Inc. (NASDAQ:BIDU)

Scion Asset Management LLC boosted its position in Baidu, Inc. (NASDAQ:BIDU) by 87.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,000 shares of the information services provider’s stock after purchasing an additional 35,000 shares during the period. Baidu comprises 12.4% of Scion Asset Management LLC’s portfolio, making the stock its 4th biggest holding. Scion Asset Management LLC’s holdings in Baidu were worth $6,486,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Nordea Investment Management AB increased its position in Baidu by 14.5% in the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock worth $42,125,000 after buying an additional 50,599 shares in the last quarter. SRN Advisors LLC boosted its holdings in shares of Baidu by 111.5% during the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after purchasing an additional 8,272 shares during the last quarter. Perpetual Ltd boosted its holdings in shares of Baidu by 45.4% during the 1st quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock valued at $15,451,000 after purchasing an additional 45,975 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in shares of Baidu during the 4th quarter valued at about $11,028,000. Finally, Bryn Mawr Capital Management LLC bought a new position in shares of Baidu in the 1st quarter valued at about $216,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BIDU. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Barclays dropped their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Bank of America dropped their price objective on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Hsbc Global Res cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Loop Capital lowered their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Baidu currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Baidu Trading Up 9.1 %

NASDAQ:BIDU opened at $102.56 on Friday. Baidu, Inc. has a 12-month low of $79.68 and a 12-month high of $136.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The firm has a market capitalization of $35.96 billion, a P/E ratio of 13.73 and a beta of 0.48. The business has a 50 day simple moving average of $86.49 and a 200 day simple moving average of $95.16.

Baidu 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.