Woodline Partners LP Reduces Holdings in iQIYI, Inc. Sponsored ADR $IQ

Key Points

• Woodline Partners LP has reduced its holdings in iQIYI, Inc. by 7.0%, owning approximately 3.15 million shares valued at $7.13 million as of the end of Q1.
• Several other institutional investors have also increased their positions in iQIYI, with Vanguard Group boosting its stake by 3.6% and Charles Schwab increasing by 247.3% during the same period.
• iQIYI shares have fluctuated between a 1-year low of $1.50 and a high of $3.35, currently trading at around $2.61, with analysts issuing mixed ratings and price targets.

Woodline Partners LP reduced its position in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 7.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,155,906 shares of the company's stock after selling 236,316 shares during the period. Woodline Partners LP owned about 0.33% of iQIYI worth $7,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of iQIYI by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 18,956,694 shares of the company's stock valued at $42,842,000 after purchasing an additional 663,609 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of iQIYI by 247.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,884,384 shares of the company's stock worth $4,259,000 after purchasing an additional 1,341,745 shares during the last quarter. Quantbot Technologies LP bought a new position in iQIYI in the 1st quarter worth about $374,000. Causeway Capital Management LLC grew its position in iQIYI by 29.0% in the 1st quarter. Causeway Capital Management LLC now owns 2,896,200 shares of the company's stock worth $6,545,000 after purchasing an additional 651,500 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of iQIYI by 94.5% in the fourth quarter. Northern Trust Corp now owns 1,230,272 shares of the company's stock valued at $2,473,000 after acquiring an additional 597,819 shares in the last quarter. 52.69% of the stock is owned by hedge funds and other institutional investors.

iQIYI Trading Down 0.4%

Shares of NASDAQ IQ opened at $2.61 on Friday. iQIYI, Inc. Sponsored ADR has a 1-year low of $1.50 and a 1-year high of $3.35. The company has a market cap of $2.51 billion, a PE ratio of 261.26 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 has a 50-day moving average of $2.15 and a two-hundred day moving average of $1.99.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group upgraded shares of iQIYI from a "neutral" rating to a "buy" rating and set a $3.32 price objective for the company in a 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. Cfra Research downgraded shares of iQIYI from a "hold" rating to a "moderate sell" rating in a research report on Thursday, August 28th. Jefferies Financial Group raised 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. Finally, Wall Street Zen downgraded shares of iQIYI from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average 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.

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