Vanguard Group Inc. Purchases 663,609 Shares of iQIYI, Inc. Sponsored ADR $IQ

Vanguard Group Inc. lifted its holdings in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,956,694 shares of the company’s stock after acquiring an additional 663,609 shares during the quarter. Vanguard Group Inc. owned approximately 1.97% of iQIYI worth $42,842,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC boosted its position in iQIYI by 23.6% in the 1st quarter. Krane Funds Advisors LLC now owns 26,905,091 shares of the company’s stock valued at $60,806,000 after buying an additional 5,141,322 shares during the last quarter. Woodline Partners LP bought a new position in iQIYI during the 4th quarter worth approximately $6,818,000. Dimensional Fund Advisors LP boosted its position in shares of iQIYI by 41.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company’s stock worth $22,135,000 after purchasing an additional 3,235,223 shares in the last quarter. Federated Hermes Inc. grew its stake in iQIYI by 44.5% in the first quarter. Federated Hermes Inc. now owns 9,370,852 shares of the company’s stock valued at $21,178,000 after acquiring an additional 2,886,631 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of iQIYI in the 4th quarter valued at approximately $1,998,000. Institutional investors own 52.69% of the company’s stock.

iQIYI Stock Performance

NASDAQ IQ opened at $2.41 on Tuesday. iQIYI, Inc. Sponsored ADR has a fifty-two week low of $1.50 and a fifty-two week high of $3.35. The firm’s fifty day moving average price is $1.90 and its two-hundred day moving average price is $1.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market cap of $2.32 billion, a PE ratio of 241.24 and a beta of -0.14.

Analyst Ratings Changes

A number of equities analysts have issued reports on IQ shares. CLSA upgraded iQIYI from a “hold” rating to a “moderate buy” rating in a report on Tuesday, August 19th. UBS Group raised shares of iQIYI from a “neutral” rating to a “buy” rating and set a $3.32 price target on the stock in a research report on Thursday, August 21st. Wall Street Zen cut iQIYI from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Finally, Jefferies Financial Group raised their target price on shares of iQIYI from $2.10 to $2.50 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.56.

iQIYI Company Profile

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.