iQIYI, Inc. Sponsored ADR (NASDAQ:IQ – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.03 and last traded at $1.0450, with a volume of 2100813 shares. The stock had previously closed at $1.05.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on IQ shares. Jefferies Financial Group restated a “buy” rating and set a $2.22 price objective on shares of iQIYI in a report on Thursday, February 26th. Zacks Research lowered iQIYI from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 3rd. Benchmark restated a “hold” rating on shares of iQIYI in a report on Tuesday, May 19th. Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a research report on Friday, March 27th. Finally, Wall Street Zen lowered shares of iQIYI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, iQIYI has an average rating of “Hold” and a consensus target price of $2.55.
Get Our Latest Stock Analysis on iQIYI
iQIYI Stock Performance
Institutional Trading of iQIYI
A number of hedge funds have recently made changes to their positions in IQ. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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 purchasing an additional 1,716,011 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in 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 last quarter. Catalyst Funds Management Pty Ltd acquired a new position in iQIYI in the 4th quarter valued at $1,205,000. Parallel Advisors LLC boosted its position in shares of iQIYI by 20.8% in the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after acquiring an additional 5,077 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in iQIYI in the 4th quarter valued at about $8,488,000. 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.
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