iQIYI, Inc. Sponsored ADR $IQ Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its holdings in iQIYI by 8.6%, owning 2,067,780 shares valued at approximately $4.67 million.
• Several hedge funds have also significantly raised their stakes in iQIYI, with Caitong International Asset Management increasing its stake by 15,081.2% during the same quarter.
• Analysts have mixed outlooks on iQIYI's stock, with ratings ranging from "buy" to "sell," and a consensus price target of $2.51.

American Century Companies Inc. lifted its stake in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,067,780 shares of the company's stock after buying an additional 163,215 shares during the quarter. American Century Companies Inc. owned about 0.21% of iQIYI worth $4,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Krane Funds Advisors LLC grew its holdings in iQIYI by 23.6% during the 1st quarter. Krane Funds Advisors LLC now owns 26,905,091 shares of the company's stock valued at $60,806,000 after buying an additional 5,141,322 shares in the last quarter. Woodline Partners LP bought a new stake in shares of iQIYI during the 4th quarter worth approximately $6,818,000. Dimensional Fund Advisors LP raised its position in iQIYI by 41.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company's stock valued at $22,135,000 after purchasing an additional 3,235,223 shares in the last quarter. Federated Hermes Inc. raised its position in iQIYI by 44.5% during the 1st quarter. Federated Hermes Inc. now owns 9,370,852 shares of the company's stock valued at $21,178,000 after purchasing an additional 2,886,631 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in iQIYI by 247.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,884,384 shares of the company's stock valued at $4,259,000 after purchasing an additional 1,341,745 shares in the last quarter. Hedge funds and other institutional investors own 52.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IQ. UBS Group upgraded iQIYI from a "neutral" rating to a "buy" rating and set a $3.32 price target on the stock in a report on Thursday, August 21st. Cfra Research downgraded iQIYI from a "hold" rating to a "moderate sell" rating in a research note on Thursday, August 28th. CLSA upgraded iQIYI from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 19th. Wall Street Zen downgraded iQIYI from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Jefferies Financial Group boosted their target price on iQIYI from $2.10 to $2.50 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, iQIYI presently has a consensus rating of "Hold" and an average target price of $2.51.

iQIYI Price Performance

iQIYI stock remained flat at $2.71 during trading hours on Thursday. The company's stock had a trading volume of 14,742,423 shares, compared to its average volume of 27,522,512. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.42 and a quick ratio of 0.42. The firm's 50-day moving average price is $2.04 and its 200 day moving average price is $1.97. The firm has a market capitalization of $2.61 billion, a PE ratio of 271.27 and a beta of -0.14. iQIYI, Inc. Sponsored ADR has a twelve month low of $1.50 and a twelve month high of $3.35.

iQIYI Company Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.