Lido Advisors LLC Acquires New Stake in IQIYI Inc (IQ)
Lido Advisors LLC acquired a new stake in shares of IQIYI Inc (NASDAQ:IQ) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 70,342 shares of the company’s stock, valued at approximately $2,272,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new stake in IQIYI in the second quarter valued at $105,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in IQIYI in the second quarter valued at $113,000. BB&T Securities LLC bought a new stake in IQIYI in the first quarter valued at $171,000. SeaCrest Wealth Management LLC bought a new stake in IQIYI in the second quarter valued at $208,000. Finally, GAM Holding AG bought a new stake in IQIYI in the second quarter valued at $216,000. Institutional investors and hedge funds own 5.58% of the company’s stock.
Shares of IQ stock opened at $27.03 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 1.31. IQIYI Inc has a 52 week low of $15.30 and a 52 week high of $46.23.
A number of brokerages have weighed in on IQ. Goldman Sachs Group cut IQIYI from a “buy” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Thursday, August 2nd. They noted that the move was a valuation call. Credit Suisse Group cut IQIYI from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 1st. CLSA began coverage on IQIYI in a research report on Tuesday. They issued a “buy” rating on the stock. Bank of America upped their price target on IQIYI from $35.50 to $41.00 and gave the company a “neutral” rating in a research report on Wednesday, August 1st. Finally, Zacks Investment Research upgraded IQIYI from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Saturday, August 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $30.00.
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.
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