SG Americas Securities LLC Purchases 390,088 Shares of iQIYI, Inc. Sponsored ADR $IQ

SG Americas Securities LLC grew its position in shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) by 33.0% during the second quarter, Holdings Channel reports. The institutional investor owned 1,571,432 shares of the company’s stock after purchasing an additional 390,088 shares during the quarter. SG Americas Securities LLC’s holdings in iQIYI were worth $2,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC purchased a new stake in iQIYI in the 1st quarter worth about $30,000. DRW Securities LLC bought a new position in iQIYI during the first quarter worth about $33,000. HighTower Advisors LLC increased its stake in shares of iQIYI by 102.3% in the first quarter. HighTower Advisors LLC now owns 15,639 shares of the company’s stock worth $35,000 after purchasing an additional 698,342 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of iQIYI by 199.7% in the second quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock valued at $80,000 after purchasing an additional 29,999 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of iQIYI by 15,081.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 44,481 shares of the company’s stock valued at $101,000 after buying an additional 44,188 shares in the last quarter. Institutional investors own 52.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on IQ. 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 research note on Thursday, August 21st. CLSA raised iQIYI from a “hold” rating to a “moderate buy” rating in a report on Tuesday, August 19th. Jefferies Financial Group boosted their price objective on iQIYI from $2.10 to $2.50 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Wall Street Zen downgraded iQIYI from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Finally, Cfra Research cut iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Thursday, August 28th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, iQIYI presently has an average rating of “Hold” and a consensus price target of $2.51.

iQIYI Stock Performance

NASDAQ:IQ opened at $2.18 on Wednesday. The stock has a market cap of $2.10 billion, a P/E ratio of 218.22 and a beta of -0.09. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.67. The business’s 50-day moving average price is $2.36 and its two-hundred day moving average price is $2.09. iQIYI, Inc. Sponsored ADR has a twelve month low of $1.50 and a twelve month high of $2.84.

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.