RWC Asset Management LLP Buys 8,423 Shares of Baidu, Inc. (NASDAQ:BIDU)

RWC Asset Management LLP increased its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 343,173 shares of the information services provider’s stock after purchasing an additional 8,423 shares during the quarter. Baidu accounts for 2.5% of RWC Asset Management LLP’s holdings, making the stock its 11th biggest holding. RWC Asset Management LLP’s holdings in Baidu were worth $40,868,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Bruce G. Allen Investments LLC purchased a new stake in Baidu in the fourth quarter worth $25,000. Headinvest LLC purchased a new position in Baidu in the 3rd quarter worth about $36,000. FNY Investment Advisers LLC bought a new stake in Baidu during the 4th quarter valued at about $42,000. ING Groep NV boosted its position in Baidu by 103.2% in the 3rd quarter. ING Groep NV now owns 443 shares of the information services provider’s stock valued at $60,000 after buying an additional 225 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Baidu in the 3rd quarter valued at about $73,000.

Baidu Stock Performance

BIDU traded up $0.62 on Friday, reaching $100.52. 4,816,699 shares of the stock were exchanged, compared to its average volume of 2,670,415. The company’s 50-day moving average price is $103.06 and its 200 day moving average price is $108.90. Baidu, Inc. has a fifty-two week low of $94.25 and a fifty-two week high of $156.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.01 and a quick ratio of 3.01. The firm has a market capitalization of $35.25 billion, a PE ratio of 13.02 and a beta of 0.68.

Analyst Ratings Changes

Several analysts have recently weighed in on BIDU shares. Barclays decreased their price target on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Citigroup decreased their target price on Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. HSBC decreased their target price on Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Baidu currently has an average rating of “Moderate Buy” and a consensus price target of $171.64.

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.