iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) have been assigned an average recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $2.5467.

Several research firms have issued reports on IQ. Wall Street Zen downgraded iQIYI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Zacks Research downgraded iQIYI from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a report on Wednesday, June 24th. Finally, Benchmark reiterated a “hold” rating on shares of iQIYI in a report on Tuesday, May 19th.

Hedge Funds Weigh In On iQIYI

A number of large investors have recently made changes to their positions in the business. Parallel Advisors LLC increased its holdings in shares of iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after purchasing an additional 5,077 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of iQIYI by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock valued at $1,107,000 after purchasing an additional 6,900 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of 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 purchasing an additional 22,662 shares during the period. Catalyst Funds Management Pty Ltd acquired a new position in iQIYI in the fourth quarter worth approximately $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in iQIYI by 393.4% in the first 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 last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Price Performance

NASDAQ IQ opened at $1.04 on Friday. The stock’s 50-day moving average price is $1.11 and its two-hundred day moving average price is $1.50. 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 has a market cap of $1.00 billion, a PE ratio of -10.40 and a beta of 0.19. 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.