558,000 Shares in iQIYI, Inc. Sponsored ADR $IQ Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new position in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) in the 2nd quarter, HoldingsChannel reports. The firm acquired 558,000 shares of the company’s stock, valued at approximately $580,000.

A number of other large investors also recently made changes to their positions in IQ. Parallel Advisors LLC lifted its position 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 buying an additional 5,077 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in iQIYI by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after acquiring an additional 22,662 shares during the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in iQIYI in the fourth quarter valued at about $1,205,000. Triata Capital Ltd bought a new position in shares of iQIYI during the 2nd quarter valued at approximately $1,152,419. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 during the period. 52.69% of the stock is owned by institutional investors.

iQIYI Trading Up 0.4%

NASDAQ:IQ opened at $0.94 on Friday. iQIYI, Inc. Sponsored ADR has a 1 year low of $0.86 and a 1 year high of $2.73. The stock’s fifty day moving average price is $1.14 and its two-hundred day moving average price is $1.20. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.45 and a quick ratio of 0.45. The company has a market cap of $903.83 million, a P/E ratio of -7.81 and a beta of 0.19.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of iQIYI from $2.20 to $1.20 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Zacks Research raised iQIYI from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Benchmark restated a “hold” rating on shares of iQIYI in a research note on Wednesday, August 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $1.40 price target on shares of iQIYI in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $1.73.

iQIYI Profile

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.