National Bank of Canada FI purchased a new position in shares of iQIYI, Inc. (NASDAQ:IQ – Get Rating) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,121,075 shares of the company’s stock, valued at approximately $5,112,000. National Bank of Canada FI owned approximately 0.14% of iQIYI as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of America Corp DE lifted its position in iQIYI by 66.7% during the 2nd quarter. Bank of America Corp DE now owns 19,893,696 shares of the company’s stock valued at $309,943,000 after purchasing an additional 7,957,425 shares during the period. Banco Santander S.A. acquired a new position in iQIYI during the 3rd quarter valued at about $44,165,000. Nut Tree Capital Management LP acquired a new position in iQIYI during the 3rd quarter valued at about $16,222,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in iQIYI by 344.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,799,900 shares of the company’s stock valued at $46,573,000 after purchasing an additional 4,493,546 shares during the period. Finally, Krane Funds Advisors LLC lifted its position in iQIYI by 98.0% during the 3rd quarter. Krane Funds Advisors LLC now owns 7,349,219 shares of the company’s stock valued at $59,014,000 after purchasing an additional 3,637,815 shares during the period. Institutional investors and hedge funds own 30.63% of the company’s stock.
A number of brokerages have recently commented on IQ. Zacks Investment Research cut iQIYI from a “buy” rating to a “hold” rating in a research note on Thursday. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a research note on Monday, January 10th. HSBC lowered their price target on iQIYI from $8.10 to $4.80 in a research note on Friday, January 14th. Benchmark began coverage on iQIYI in a research note on Tuesday, December 28th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. cut iQIYI from an “overweight” rating to an “underweight” rating and lowered their price target for the company from $8.00 to $2.00 in a research note on Monday, March 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.92.
Shares of NASDAQ IQ traded down $0.46 during trading hours on Friday, hitting $4.31. The company had a trading volume of 22,812,005 shares, compared to its average volume of 33,749,108. The stock has a market capitalization of $3.38 billion, a P/E ratio of -3.56 and a beta of 0.79. The company has a quick ratio of 0.68, a current ratio of 0.51 and a debt-to-equity ratio of 2.40. iQIYI, Inc. has a 1-year low of $1.86 and a 1-year high of $23.44. The firm’s 50 day moving average is $4.03 and its 200-day moving average is $5.98.
iQIYI Company Profile (Get Rating)
iQIYI, Inc engages in the provision of internet video streaming services. It operates a smart television streaming service and an entertainment-based social media platform, iQIYI Paopao. The firm also also distribute video content through third-party platforms. The company was founded by Yu Gong in November 2009 and is headquartered in Haidan District, China.
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