Public Employees Retirement System of Ohio Buys Shares of 558,000 iQIYI, Inc. Sponsored ADR $IQ

Public Employees Retirement System of Ohio purchased a new stake in shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 558,000 shares of the company’s stock, valued at approximately $580,000. Public Employees Retirement System of Ohio owned approximately 0.06% of iQIYI at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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 valued at $4,864,000 after buying an additional 1,716,011 shares during the period. Catalyst Funds Management Pty Ltd acquired a new stake in iQIYI during the 4th quarter worth approximately $1,205,000. Parallel Advisors LLC boosted its position in iQIYI by 20.8% during the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after buying an additional 5,077 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in iQIYI during the 4th quarter worth approximately $8,488,000. Finally, Marshall Wace LLP grew its holdings in iQIYI by 1,423.3% during the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after acquiring an additional 2,626,502 shares during the last quarter. 52.69% of the stock is currently owned by institutional investors.

iQIYI Stock Performance

Shares of IQ opened at $0.94 on Friday. iQIYI, Inc. Sponsored ADR has a one year low of $0.86 and a one year high of $2.73. The company has a market cap of $903.83 million, a PE ratio of -7.81 and a beta of 0.19. The stock has a 50-day moving average of $1.14 and a 200-day moving average of $1.20. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.45 and a quick ratio of 0.45.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Wednesday, August 19th. Zacks Research upgraded iQIYI from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Wall Street Zen upgraded shares of iQIYI from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 22nd. JPMorgan Chase & Co. dropped their price target on iQIYI from $2.20 to $1.20 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, iQIYI currently has a consensus rating of “Hold” and a consensus target price of $1.73.

iQIYI 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.