iQIYI (NASDAQ:IQ – Get Free Report) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.
Several other equities analysts also recently issued reports on the stock. Benchmark restated a “hold” rating on shares of iQIYI in a research note on Tuesday, May 19th. Wall Street Zen cut iQIYI from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.55.
Check Out Our Latest Stock Analysis on IQ
iQIYI Trading Up 1.6%
Hedge Funds Weigh In On iQIYI
A number of institutional investors have recently modified their holdings of the business. Catalyst Funds Management Pty Ltd purchased a new stake in iQIYI in the 4th quarter valued at $1,205,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in iQIYI during the 4th quarter worth $8,488,000. Marshall Wace LLP grew its position 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 purchasing an additional 2,626,502 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 valued at $4,864,000 after purchasing an additional 1,716,011 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in iQIYI by 1.6% in the third 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. 52.69% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
- Five stocks we like better than iQIYI
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
- 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative?
- 3 Photonics Companies Making Quantum Tech Possible
Receive News & Ratings for iQIYI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iQIYI and related companies with MarketBeat.com's FREE daily email newsletter.
