iQIYI, Inc. Sponsored ADR $IQ Shares Sold by Woodline Partners LP

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

Other large investors also recently bought and sold shares of the company. Private Advisor Group LLC purchased a new stake in shares of iQIYI during the first quarter valued at approximately $30,000. DRW Securities LLC acquired a new stake in iQIYI during the 1st quarter valued at $33,000. HighTower Advisors LLC increased its stake in iQIYI by 102.3% during the 1st quarter. HighTower Advisors LLC now owns 15,639 shares of the company's stock worth $35,000 after buying an additional 698,342 shares during the period. Vident Advisory LLC acquired a new position in iQIYI in the 4th quarter worth $33,000. Finally, Ping Capital Management Inc. acquired a new position in iQIYI in the 1st quarter worth $90,000. Institutional investors and hedge funds own 52.69% of the company's stock.

Analyst Upgrades and Downgrades

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

iQIYI Stock Performance

IQ stock traded down $0.07 on Thursday, reaching $2.61. The company's stock had a trading volume of 9,200,784 shares, compared to its average volume of 27,809,949. iQIYI, Inc. Sponsored ADR has a 52 week low of $1.50 and a 52 week high of $3.35. The company has a market capitalization of $2.51 billion, a P/E ratio of 260.76 and a beta of -0.14. The firm has a fifty day moving average of $2.20 and a two-hundred day moving average of $2.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.42 and a quick ratio of 0.42.

About iQIYI

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.