Charles Schwab Investment Management Inc. Purchases 1,341,745 Shares of iQIYI, Inc. Sponsored ADR $IQ

Key Points

• Charles Schwab Investment Management Inc. significantly increased its stake in iQIYI, Inc. by 247.3% and now holds a total of 1,884,384 shares, valued at approximately $4.26 million.
• Several other institutional investors, including Vanguard Group and Jefferies Financial Group, also raised their stakes in iQIYI, reflecting growing interest among hedge funds.
• iQIYI's stock price saw a 6.4% increase recently, with analysts' ratings ranging from "buy" to "sell," and an average target price of $2.51.

Charles Schwab Investment Management Inc. grew its holdings in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 247.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,884,384 shares of the company's stock after purchasing an additional 1,341,745 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.20% of iQIYI worth $4,259,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Private Advisor Group LLC bought a new stake in shares of iQIYI in the first quarter valued at approximately $30,000. Vident Advisory LLC bought a new stake in shares of iQIYI in the fourth quarter valued at approximately $33,000. Ping Capital Management Inc. bought a new stake in iQIYI during the 1st quarter worth approximately $90,000. LMR Partners LLP bought a new stake in iQIYI during the 4th quarter worth approximately $237,000. Finally, Public Employees Retirement System of Ohio increased its holdings in iQIYI by 924.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 314,600 shares of the company's stock worth $632,000 after acquiring an additional 283,900 shares during the period. Institutional investors own 52.69% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of iQIYI from $2.10 to $2.50 and gave the stock a "buy" rating in a report on Wednesday, August 20th. CLSA raised shares of iQIYI from a "hold" rating to a "moderate buy" rating in a report on Tuesday, August 19th. UBS Group raised shares of iQIYI from a "neutral" rating to a "buy" rating and set a $3.32 target price on the stock in a report on Thursday, August 21st. Finally, Wall Street Zen lowered shares of iQIYI from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, iQIYI presently has an average rating of "Hold" and an average price target of $2.51.

iQIYI Trading Up 5.6%

Shares of IQ stock traded up $0.14 on Monday, hitting $2.65. 39,732,108 shares of the company's stock traded hands, compared to its average volume of 27,019,302. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 265.27 and a beta of -0.14. iQIYI, Inc. Sponsored ADR has a one year low of $1.50 and a one year high of $3.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.42 and a current ratio of 0.42. The company's fifty day simple moving average is $1.96 and its 200 day simple moving average is $1.96.

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.