Triata Capital Ltd Invests $1.15 Billion in iQIYI, Inc. Sponsored ADR $IQ

Key Points

• Triata Capital Ltd. disclosed a new iQIYI position of 1,108,095 shares, representing 0.11% of the company and about 0.2% of the firm’s portfolio. The filing valued the stake at approximately $1.15 billion.
• Institutional investors and hedge funds collectively own 52.69% of iQIYI, with several firms significantly increasing their holdings in recent quarters.
• Analyst sentiment remains cautious: iQIYI has a consensus “Hold” rating and a $1.73 target price, while JPMorgan recently cut its target to $1.20. The shares opened at $1.05, near their 52-week low of $0.95.

Triata Capital Ltd bought a new position in shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,108,095 shares of the company's stock, valued at approximately $1,152,419,000. iQIYI accounts for approximately 0.2% of Triata Capital Ltd's holdings, making the stock its 12th biggest position. Triata Capital Ltd owned 0.11% of iQIYI at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in iQIYI during the fourth quarter worth $8,488,000. Marshall Wace LLP grew its holdings in shares of iQIYI by 1,423.3% in the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company's stock worth $5,397,000 after purchasing an additional 2,626,502 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of iQIYI by 393.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company's stock worth $4,864,000 after purchasing an additional 1,716,011 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in shares of iQIYI during the 4th quarter worth about $1,205,000. Finally, Bank of New York Mellon Corp lifted its holdings in iQIYI by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company's stock valued at $721,000 after purchasing an additional 22,662 shares during the last quarter. Institutional investors and hedge funds own 52.69% of the company's stock.

Analysts Set New Price Targets

IQ has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on iQIYI from $2.20 to $1.20 and set a "neutral" rating on the stock in a research report on Thursday. Weiss Ratings restated a "sell (d)" rating on shares of iQIYI in a research report on Wednesday, June 24th. Wall Street Zen raised iQIYI from a "strong sell" rating to a "sell" rating in a research note on Saturday. Benchmark reissued a "hold" rating on shares of iQIYI in a research note on Wednesday. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $1.40 price objective on shares of iQIYI in a report on Thursday. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $1.73.

iQIYI Price Performance

Shares of IQ opened at $1.05 on Monday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.81. iQIYI, Inc. Sponsored ADR has a 1 year low of $0.95 and a 1 year high of $2.84. The stock has a market cap of $1.02 billion, a P/E ratio of -8.79 and a beta of 0.19. The stock's 50-day moving average price is $1.16 and its two-hundred day moving average price is $1.29.

About iQIYI

iQIYI, Inc is a leading online entertainment service provider headquartered in Beijing, China, offering a comprehensive portfolio of streaming video content across multiple genres. The company operates a subscription-based video-on-demand (SVOD) platform, complemented by advertising-supported content (AVOD) and pay-per-view offerings. Its digital library encompasses original series, feature films, variety shows, animation and documentaries, catering to diverse demographic segments and viewer preferences.

Originally launched by Baidu in 2010 as an online video site, iQIYI was formally rebranded in early 2012 and has since expanded its footprint beyond China's domestic market.

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