Columbus Hill Capital Management L.P. Takes $1.28 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Columbus Hill Capital Management L.P. acquired a new position in Baidu, Inc. (NASDAQ:BIDU) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,751 shares of the information services provider’s stock, valued at approximately $1,276,000.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new stake in shares of Baidu during the second quarter worth approximately $1,796,000. DCF Advisers LLC boosted its stake in shares of Baidu by 48.1% during the 2nd quarter. DCF Advisers LLC now owns 30,000 shares of the information services provider’s stock valued at $2,594,000 after buying an additional 9,750 shares during the period. Shah Capital Management purchased a new position in shares of Baidu during the 2nd quarter valued at $14,269,000. Virtu Financial LLC acquired a new position in shares of Baidu in the second quarter worth $2,591,000. Finally, Primecap Management Co. CA boosted its position in Baidu by 17.2% during the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BIDU shares. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Bank of America decreased their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Barclays cut their price target on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Finally, Citigroup decreased their price objective on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.13.

Baidu Stock Performance

Shares of NASDAQ BIDU opened at $86.24 on Friday. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $136.53. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The company has a market cap of $30.24 billion, a P/E ratio of 11.54 and a beta of 0.48. The business’s 50 day moving average is $86.28 and its two-hundred day moving average is $95.26.

About Baidu

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.