Invesco Ltd. Purchases 224,694 Shares of iQIYI, Inc. Sponsored ADR $IQ

Invesco Ltd. raised its position in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) by 50.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 674,349 shares of the company’s stock after buying an additional 224,694 shares during the period. Invesco Ltd. owned about 0.07% of iQIYI worth $1,524,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of 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. Vanguard Group Inc. boosted its position in iQIYI by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 18,956,694 shares of the company’s stock valued at $42,842,000 after buying an additional 663,609 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in iQIYI by 41.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company’s stock valued at $22,135,000 after buying an additional 3,235,223 shares during the last quarter. Federated Hermes Inc. boosted its position in iQIYI by 44.5% in the 1st quarter. Federated Hermes Inc. now owns 9,370,852 shares of the company’s stock valued at $21,178,000 after buying an additional 2,886,631 shares during the last quarter. Finally, Woodline Partners LP bought a new position in iQIYI in the 4th quarter valued at $6,818,000. 52.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IQ shares. UBS Group raised iQIYI from a “neutral” rating to a “buy” rating and set a $3.32 price target on the stock in a research note on Thursday, August 21st. Wall Street Zen downgraded iQIYI from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. CLSA raised iQIYI from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 19th. Finally, Jefferies Financial Group increased their price target on iQIYI from $2.10 to $2.50 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, iQIYI has a consensus rating of “Hold” and a consensus target price of $2.51.

iQIYI Stock Performance

Shares of iQIYI stock opened at $2.65 on Monday. The company has a market capitalization of $2.55 billion, a PE ratio of 265.27 and a beta of -0.14. iQIYI, Inc. Sponsored ADR has a 12 month low of $1.50 and a 12 month high of $3.35. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67. The stock’s fifty day simple moving average is $1.96 and its 200 day simple moving average is $1.96.

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.