iQIYI, Inc. Sponsored ADR $IQ Stock Position Raised by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in iQIYI, Inc. by 3.6% during the first quarter, acquiring 663,609 additional shares, bringing its total ownership to approximately 1.97% valued at $42.8 million.
• Several other hedge funds also boosted their holdings in iQIYI, including Krane Funds Advisors LLC, which raised its stake by 23.6%, now owning 26.9 million shares valued at $60.8 million.
• Analysts have mixed views on iQIYI's stock, with ratings ranging from "buy" to "sell," while the current consensus target price is set at $2.56.

Vanguard Group Inc. boosted its holdings in shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,956,694 shares of the company's stock after acquiring an additional 663,609 shares during the period. Vanguard Group Inc. owned 1.97% of iQIYI worth $42,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Krane Funds Advisors LLC boosted its holdings in iQIYI by 23.6% in 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. Dimensional Fund Advisors LP increased its holdings in iQIYI by 41.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company's stock valued at $22,135,000 after buying an additional 3,235,223 shares in the last quarter. Federated Hermes Inc. increased its holdings in iQIYI by 44.5% in the first 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. Woodline Partners LP purchased a new position in shares of iQIYI during the 4th quarter worth approximately $6,818,000. Finally, Northern Trust Corp increased its stake in shares of iQIYI by 94.5% during the 4th quarter. Northern Trust Corp now owns 1,230,272 shares of the company's stock worth $2,473,000 after purchasing an additional 597,819 shares in the last quarter. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IQ has been the subject of a number of recent research reports. Wall Street Zen cut shares of iQIYI from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. CLSA upgraded shares of iQIYI from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 19th. Jefferies Financial Group raised their target price on shares of iQIYI from $2.10 to $2.50 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Finally, UBS Group upgraded shares of iQIYI from a "neutral" rating to a "buy" rating and set a $3.32 target price on the stock in a research report on Thursday, August 21st. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.51.

iQIYI Stock Up 5.6%

Shares of IQ traded up $0.14 during midday trading on Friday, reaching $2.65. 39,732,108 shares of the company were exchanged, compared to its average volume of 25,917,300. The stock has a 50-day moving average price of $1.96 and a 200-day moving average price of $1.97. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 265.27 and a beta of -0.14. iQIYI, Inc. Sponsored ADR has a 1-year low of $1.50 and a 1-year high of $3.35. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67.

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.