Nomura Holdings Inc. Increases Stake in iQIYI, Inc. Sponsored ADR $IQ

Key Points

• Nomura Holdings Inc. significantly increased its stake in iQIYI, by 461.7% during Q1, acquiring an additional 1,326,830 shares, bringing their total to approximately 1.6 million shares valued at $3.65 million.
• Other institutional investors also increased their positions in iQIYI, notably Dimensional Fund Advisors LP which raised its holdings by 41.6% and Northern Trust Corp which boosted its position by 94.5% during the last quarter.
• Recent analyst reports show a mix of ratings for iQIYI, with UBS Group upgrading it to a "buy" with a $3.32 price target, while the consensus average rating remains at "Hold" with a target price of $2.51.

Nomura Holdings Inc. raised its position in shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 461.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,614,192 shares of the company's stock after purchasing an additional 1,326,830 shares during the quarter. Nomura Holdings Inc. owned 0.17% of iQIYI worth $3,648,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Jefferies Financial Group boosted 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. Wall Street Zen cut shares of iQIYI from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. UBS Group upgraded shares of iQIYI from a "neutral" rating to a "buy" rating and set a $3.32 price target on the stock in a research report on Thursday, August 21st. CLSA upgraded shares of iQIYI from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 19th. Finally, Cfra Research cut shares of iQIYI from a "hold" rating to a "moderate sell" rating in a research report on Thursday, August 28th. Three research 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, the company currently has an average rating of "Hold" and a consensus price target of $2.51.

iQIYI Price Performance

Shares of IQ remained flat at $2.71 during midday trading on Friday. 18,411,780 shares of the stock traded hands, compared to its average volume of 27,842,602. iQIYI, Inc. Sponsored ADR has a 1-year low of $1.50 and a 1-year high of $3.35. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 271.27 and a beta of -0.14. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67. The company's 50-day moving average is $2.06 and its 200 day moving average is $1.97.

iQIYI 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.