iQIYI (NASDAQ:IQ) Rating Increased to Hold at Zacks Research

iQIYI (NASDAQ:IQ) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also commented on IQ. Weiss Ratings reissued 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 report on Tuesday, May 19th. Finally, Wall Street Zen downgraded shares of iQIYI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.55.

iQIYI Trading Up 1.6%

Shares of IQ opened at $1.25 on Monday. The firm’s 50 day simple moving average is $1.09 and its 200 day simple moving average is $1.41. The company has a market capitalization of $1.21 billion, a P/E ratio of -12.50 and a beta of 0.19. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.45 and a quick ratio of 0.45. iQIYI has a 1-year low of $0.95 and a 1-year high of $2.84.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IQ. Parallel Advisors LLC increased its holdings in shares of iQIYI by 20.8% during the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after acquiring an additional 5,077 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of iQIYI by 2.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock worth $495,000 after purchasing an additional 8,900 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in iQIYI by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock worth $721,000 after purchasing an additional 22,662 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new position in iQIYI in the 4th quarter worth about $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 purchasing an additional 1,716,011 shares during the last quarter. Institutional investors own 52.69% of the company’s stock.

iQIYI Company 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.