Public Employees Retirement System of Ohio Acquires 138,300 Shares of iQIYI, Inc. Sponsored ADR $IQ

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in iQIYI, Inc. by 48.2% during the second quarter, acquiring an additional 138,300 shares for a total of 425,400 shares valued at approximately $753,000.
• Several hedge funds, including SG Americas Securities LLC and Krane Funds Advisors LLC, have also significantly increased their stakes in iQIYI, contributing to a total of 52.69% of the stock being owned by institutional investors.
• Analyst ratings for iQIYI vary, with the consensus rating classified as a Hold and a target price averaging $2.51; recent reports show a mix of buy, hold, and sell recommendations.

Public Employees Retirement System of Ohio increased its holdings in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 48.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 425,400 shares of the company's stock after buying an additional 138,300 shares during the quarter. Public Employees Retirement System of Ohio's holdings in iQIYI were worth $753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC increased its stake in shares of iQIYI by 56.6% in the 1st quarter. SG Americas Securities LLC now owns 1,181,344 shares of the company's stock worth $2,670,000 after purchasing an additional 427,076 shares in the last quarter. Krane Funds Advisors LLC grew 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 during the period. Ping Capital Management Inc. purchased a new stake in iQIYI in the first quarter worth about $90,000. Private Advisor Group LLC bought a new position in shares of iQIYI in the first quarter worth about $30,000. Finally, Federated Hermes Inc. lifted its position in shares of 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 buying an additional 2,886,631 shares in the last quarter. 52.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IQ has been the subject of several analyst reports. Weiss Ratings reissued a "sell (d)" rating on shares of iQIYI in a report on Saturday, September 27th. Jefferies Financial Group increased their price objective on shares of iQIYI from $2.10 to $2.50 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Wall Street Zen cut shares of iQIYI from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. UBS Group raised shares of iQIYI from a "neutral" rating to a "buy" rating and set a $3.32 target price for the company in a report on Thursday, August 21st. Finally, Cfra Research cut 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 issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.51.

iQIYI Price Performance

iQIYI stock opened at $2.47 on Monday. iQIYI, Inc. Sponsored ADR has a 52-week low of $1.50 and a 52-week high of $3.21. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.67. The firm's fifty day moving average is $2.36 and its 200 day moving average is $2.02. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 247.25 and a beta of -0.12.

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.

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