iQIYI (NASDAQ:IQ) Raised to Hold at Wall Street Zen

iQIYI (NASDAQ:IQ) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

IQ has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a report on Friday, March 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $2.22 target price on shares of iQIYI in a report on Thursday, February 26th. Finally, Zacks Research raised iQIYI from a “strong sell” rating to a “hold” rating in a report on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.55.

iQIYI Trading Up 0.7%

NASDAQ:IQ opened at $1.41 on Friday. The firm has a market cap of $1.36 billion, a PE ratio of -47.00 and a beta of 0.26. The stock has a fifty day moving average price of $1.48 and a 200 day moving average price of $1.89. iQIYI has a 12-month low of $1.18 and a 12-month high of $2.84. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76.

Institutional Trading of iQIYI

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of iQIYI by 20.8% during the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after acquiring an additional 5,077 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in iQIYI by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock valued at $1,107,000 after buying an additional 6,900 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in iQIYI in the 4th quarter valued at approximately $1,205,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in iQIYI by 393.4% in the 1st 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 buying an additional 1,716,011 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in iQIYI by 1,423.3% in the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock valued at $5,397,000 after buying an additional 2,626,502 shares in the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

About iQIYI

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.