Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ – Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $0.9806 and last traded at $0.9930, with a volume of 4787209 shares traded. The stock had previously closed at $1.01.
Analyst Upgrades and Downgrades
A number of research firms recently commented on IQ. Benchmark reiterated a “hold” rating on shares of iQIYI in a research note on Tuesday, May 19th. Zacks Research cut iQIYI from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 3rd. Wall Street Zen downgraded iQIYI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.55.
iQIYI Stock Up 3.9%
Hedge Funds Weigh In On iQIYI
A number of large investors have recently bought and sold shares of IQ. Catalyst Funds Management Pty Ltd acquired a new position in iQIYI in the fourth quarter valued at approximately $1,205,000. Bank of New York Mellon Corp raised its position in shares of iQIYI by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock worth $721,000 after purchasing an additional 22,662 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of iQIYI by 1.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock worth $1,107,000 after purchasing an additional 6,900 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of iQIYI in the 4th quarter worth approximately $8,488,000. Finally, Marshall Wace LLP lifted its holdings in shares of iQIYI by 1,423.3% in the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after purchasing an additional 2,626,502 shares during the last quarter. Institutional investors own 52.69% of the company’s stock.
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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