34,800 Shares in iQIYI, Inc. (NASDAQ:IQ) Bought by Public Employees Retirement Association of Colorado

Posted by on Aug 14th, 2023

Public Employees Retirement Association of Colorado bought a new position in shares of iQIYI, Inc. (NASDAQ:IQ – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 34,800 shares of the company’s stock, valued at approximately $253,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of iQIYI by 1.8% in the third quarter. Vanguard Group Inc. now owns 12,149,935 shares of the company’s stock valued at $32,926,000 after buying an additional 219,515 shares in the last quarter. Renaissance Technologies LLC increased its stake in iQIYI by 113.4% in the fourth quarter. Renaissance Technologies LLC now owns 7,130,800 shares of the company’s stock valued at $37,793,000 after acquiring an additional 3,789,000 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in iQIYI by 2.0% in the first quarter. Canada Pension Plan Investment Board now owns 4,820,440 shares of the company’s stock valued at $21,885,000 after acquiring an additional 95,740 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in iQIYI by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,630,413 shares of the company’s stock valued at $9,843,000 after acquiring an additional 83,981 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in iQIYI by 9.7% in the second quarter. Legal & General Group Plc now owns 2,612,900 shares of the company’s stock valued at $10,975,000 after acquiring an additional 230,067 shares during the last quarter. Institutional investors own 30.18% of the company’s stock.

iQIYI Stock Down 2.3 %

iQIYI stock opened at $5.83 on Monday. iQIYI, Inc. has a twelve month low of $1.65 and a twelve month high of $7.99. The firm has a 50 day moving average price of $5.39 and a 200-day moving average price of $6.12. The company has a market capitalization of $5.52 billion, a P/E ratio of -291.50 and a beta of 0.62. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.10.

iQIYI (NASDAQ:IQ – Get Free Report) last announced its quarterly earnings results on Tuesday, May 16th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.15 billion. iQIYI had a negative net margin of 0.50% and a negative return on equity of 2.03%. As a group, equities analysts predict that iQIYI, Inc. will post 0.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. HSBC decreased their price objective on shares of iQIYI from $8.00 to $6.40 in a research note on Wednesday, May 17th. Macquarie raised shares of iQIYI from an “underperform” rating to a “neutral” rating and set a $5.12 target price on the stock in a research note on Thursday, July 27th. Finally, Credit Suisse Group raised shares of iQIYI from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $7.70 to $8.00 in a research note on Wednesday, May 17th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.55.

Get Our Latest Report on IQ

iQIYI Company Profile

(Free Report)

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.

Featured Articles

Want to see what other hedge funds are holding IQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iQIYI, Inc. (NASDAQ:IQ – Free Report).

Institutional Ownership by Quarter for iQIYI (NASDAQ:IQ)

Receive News & Ratings for iQIYI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iQIYI and related companies with MarketBeat.com's FREE daily email newsletter.