iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Given Average Rating of "Hold" by Brokerages

Key Points

• iQIYI shares have an average “Hold” rating from five analysts: one Sell, two Hold, and two Buy recommendations. The average 12-month price target is $2.5467.
• Institutional investors and hedge funds own 52.69% of iQIYI, with UBS Asset Management notably increasing its position by 393.4% during the first quarter.
• The stock opened at $1.35, down 0.7%, with a market capitalization of approximately $1.30 billion. Shares have traded between $0.95 and $2.84 over the past year.

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report) have been assigned an average rating of "Hold" from the five brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $2.5467.

IQ has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of iQIYI from a "hold" rating to a "sell" rating in a research report on Sunday, April 26th. Zacks Research upgraded shares of iQIYI from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. Weiss Ratings reiterated a "sell (d)" rating on shares of iQIYI in a research note on Wednesday, June 24th. Finally, Benchmark reissued a "hold" rating on shares of iQIYI in a report on Tuesday, May 19th.

Institutional Trading of iQIYI

Hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of iQIYI by 20.8% during the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company's stock worth $57,000 after purchasing an additional 5,077 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in iQIYI by 2.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company's stock valued at $495,000 after buying an additional 8,900 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in iQIYI by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company's stock valued at $721,000 after buying an additional 22,662 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in iQIYI during the 4th quarter worth approximately $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in iQIYI by 393.4% during 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 buying an additional 1,716,011 shares during the period. 52.69% of the stock is owned by institutional investors and hedge funds.

iQIYI Trading Down 0.7%

IQ opened at $1.35 on Friday. The company has a market cap of $1.30 billion, a P/E ratio of -13.50 and a beta of 0.19. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.79. The company's 50 day moving average is $1.15 and its 200-day moving average is $1.33. iQIYI has a 1-year low of $0.95 and a 1-year high of $2.84.

iQIYI Company Profile

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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