Uncertainty Affected Baidu (BIDU) in Q4
Ariel Investments, an investment management company, released its “Ariel Global Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the Ariel Global Composite delivered a 10.72% gross of fees compared to a +9.76% return for the primary MSCI ACWI Index and a +14.21% gain for the MSCI ACWI Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Ariel Global Strategy highlighted stocks like Baidu, Inc. (NASDAQ:BIDU) in the Q4 2022 investor letter. Headquartered in Beijing, China, Baidu, Inc. (NASDAQ:BIDU) is an internet search service provider. On March 15, 2023, Baidu, Inc. (NASDAQ:BIDU) stock closed at $133.10 per share. One-month return of Baidu, Inc. (NASDAQ:BIDU) was -10.68%, and its shares lost 9.55% of their value over the last 52 weeks. Baidu, Inc. (NASDAQ:BIDU) has a market capitalization of $45.993 billion.
Ariel Global Strategy made the following comment about Baidu, Inc. (NASDAQ:BIDU) in its Q4 2022 investor letter:
"China’s internet search and online community leader, Baidu, Inc. (NASDAQ:BIDU) also detracted from performance in the period, as Chinese equities came under pressure following the conclusion of the Communist Party Congress. Investor sentiment for Baidu, Inc. remains depressed on uncertainty surrounding Covid resulting in sluggish advertising trends, China’s economic growth, and the political rhetoric towards Taiwan. Looking ahead, we remain enthusiastic about Baidu’s longer-term opportunity for revenue growth and margin expansion across internet search, cloud, autonomous driving, artificial intelligence and online video."
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Baidu, Inc. (NASDAQ:BIDU) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Baidu, Inc. (NASDAQ:BIDU) at the end of the fourth quarter which was 43 in the previous quarter.
We discussed Baidu, Inc. (NASDAQ:BIDU) in another article and shared Baron Emerging Markets Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
