Nomura Holdings Inc. Buys 1,326,830 Shares of 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. lifted its position in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 461.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,614,192 shares of the company's stock after buying an additional 1,326,830 shares during the quarter. Nomura Holdings Inc. owned about 0.17% of iQIYI worth $3,648,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Private Advisor Group LLC bought a new position in shares of iQIYI in the first quarter valued at approximately $30,000. Vident Advisory LLC acquired a new position in iQIYI in the fourth quarter worth about $33,000. DRW Securities LLC bought a new position in shares of iQIYI during the 1st quarter worth approximately $33,000. HighTower Advisors LLC boosted its stake in shares of iQIYI by 102.3% in the 1st quarter. HighTower Advisors LLC now owns 15,639 shares of the company's stock valued at $35,000 after purchasing an additional 698,342 shares in the last quarter. Finally, Ping Capital Management Inc. acquired a new position in iQIYI in the first quarter valued at about $90,000. 52.69% of the stock is currently owned by institutional investors.

iQIYI Price Performance

Shares of iQIYI stock remained flat at $2.71 on Friday. The stock had a trading volume of 18,411,780 shares, compared to its average volume of 28,403,148. 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 has a fifty day moving average price of $2.06 and a 200 day moving average price of $1.97. iQIYI, Inc. Sponsored ADR has a 52 week low of $1.50 and a 52 week high of $3.35. The firm has a market capitalization of $2.61 billion, a PE ratio of 271.27 and a beta of -0.14.

Analysts Set New Price Targets

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

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.