Public Employees Retirement System of Ohio Purchases New Stake in iQIYI, Inc. (NASDAQ:IQ)

Public Employees Retirement System of Ohio acquired a new position in iQIYI, Inc. (NASDAQ:IQ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 30,700 shares of the company’s stock, valued at approximately $88,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IQ. XTX Topco Ltd raised its stake in shares of iQIYI by 344.6% in the third quarter. XTX Topco Ltd now owns 126,659 shares of the company’s stock valued at $362,000 after buying an additional 98,169 shares during the period. HighTower Advisors LLC increased its holdings in iQIYI by 102.9% in the 3rd quarter. HighTower Advisors LLC now owns 19,840 shares of the company’s stock worth $56,000 after acquiring an additional 701,901 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in iQIYI in the 3rd quarter worth about $835,000. Atom Investors LP bought a new stake in iQIYI in the 3rd quarter valued at about $318,000. Finally, Flow Traders U.S. LLC purchased a new stake in iQIYI during the third quarter valued at about $32,000. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Nomura Securities raised shares of iQIYI to a “hold” rating in a report on Monday, August 26th. JPMorgan Chase & Co. dropped their price objective on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. Finally, The Goldman Sachs Group downgraded shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target on the stock. in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, iQIYI has a consensus rating of “Hold” and an average target price of $3.15.

iQIYI Price Performance

Shares of NASDAQ IQ opened at $2.05 on Monday. The stock’s 50-day simple moving average is $2.31 and its two-hundred day simple moving average is $2.83. iQIYI, Inc. has a twelve month low of $1.89 and a twelve month high of $5.80. The firm has a market capitalization of $1.97 billion, a P/E ratio of 10.25, a P/E/G ratio of 0.60 and a beta of 0.02. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65.

About iQIYI

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.