Maple Rock Capital Partners Inc. Acquires New Holdings in Baidu, Inc. (NASDAQ:BIDU)

Maple Rock Capital Partners Inc. purchased a new stake in Baidu, Inc. (NASDAQ:BIDU) during the third quarter, according to its most recent filing with the SEC. The firm purchased 406,000 shares of the information services provider’s stock, valued at approximately $42,748,000. Baidu accounts for 1.2% of Maple Rock Capital Partners Inc.’s portfolio, making the stock its 17th biggest holding.

A number of other hedge funds have also recently made changes to their positions in BIDU. Primecap Management Co. CA increased its position in shares of 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 worth $1,033,238,000 after purchasing an additional 1,753,577 shares in the last quarter. International Assets Investment Management LLC increased its position in Baidu by 12,065.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after buying an additional 1,061,893 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Baidu in the third quarter valued at about $36,272,000. Hhlr Advisors LTD. acquired a new stake in Baidu in the third quarter worth about $31,587,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Baidu by 103.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock valued at $51,192,000 after acquiring an additional 295,700 shares in the last quarter.

Baidu Stock Performance

Shares of BIDU stock opened at $85.98 on Wednesday. The company has a market capitalization of $30.15 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.14 and a beta of 0.46. Baidu, Inc. has a 12-month low of $78.95 and a 12-month high of $120.25. The business’s 50 day moving average is $93.36 and its two-hundred day moving average is $91.14. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Loop Capital lowered their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Citigroup dropped their target price on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Finally, Jefferies Financial Group decreased their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Baidu presently has a consensus rating of “Hold” and an average target price of $113.75.

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.