iQIYI’s (IQ) “Hold” Rating Reaffirmed at Benchmark

iQIYI (NASDAQ:IQ)‘s stock had its “hold” rating restated by stock analysts at Benchmark in a research note issued to investors on Tuesday,Benzinga reports.

A number of other analysts have also recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a research report on Friday, March 27th. Jefferies Financial Group reiterated a “buy” rating and set a $2.22 target price on shares of iQIYI in a research report on Thursday, February 26th. Zacks Research upgraded iQIYI from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 12th. Finally, Wall Street Zen cut iQIYI from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.55.

iQIYI Stock Performance

Shares of IQ opened at $1.13 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.76. The business has a 50-day simple moving average of $1.27 and a two-hundred day simple moving average of $1.74. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -37.67 and a beta of 0.19. iQIYI has a 52 week low of $1.07 and a 52 week high of $2.84.

Hedge Funds Weigh In On iQIYI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IQ. Barrow Hanley Mewhinney & Strauss LLC bought a new position in iQIYI during the fourth quarter valued at approximately $8,488,000. Marshall Wace LLP boosted its stake in iQIYI by 1,423.3% during the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock valued at $5,397,000 after buying an additional 2,626,502 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in iQIYI by 393.4% during the first 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 buying an additional 1,716,011 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new position in iQIYI during the fourth quarter valued at approximately $1,205,000. Finally, Bank of New York Mellon Corp boosted its stake in iQIYI by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after buying an additional 22,662 shares during the last quarter. 52.69% of the stock is owned by institutional investors.

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.