iQIYI (NASDAQ:IQ) Upgraded at Zacks Research

Zacks Research upgraded shares of iQIYI (NASDAQ:IQ) from a strong sell rating to a hold rating in a report published on Monday,Zacks.com reports.

IQ has been the subject of a number of other reports. Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a report on Wednesday, June 24th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Tuesday, May 19th. Finally, Wall Street Zen lowered shares of iQIYI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.55.

iQIYI Stock Down 0.8%

IQ opened at $1.24 on Monday. iQIYI has a 12 month low of $0.95 and a 12 month high of $2.84. The business has a 50-day moving average of $1.09 and a two-hundred day moving average of $1.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.45 and a quick ratio of 0.45. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -12.40 and a beta of 0.19.

Institutional Investors Weigh In On iQIYI

Several large investors have recently made changes to their positions in IQ. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of iQIYI by 393.4% during 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 acquiring an additional 1,716,011 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings 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 purchasing an additional 6,900 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in iQIYI in the 4th quarter valued at $1,205,000. Parallel Advisors LLC raised its position in 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 purchasing an additional 5,077 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in iQIYI in the fourth quarter valued at about $8,488,000. 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.