Triata Capital Ltd Buys New Holdings in iQIYI, Inc. Sponsored ADR $IQ

Triata Capital Ltd bought a new position in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,108,095 shares of the company’s stock, valued at approximately $1,152,419. iQIYI makes up approximately 0.0% of Triata Capital Ltd’s investment portfolio, making the stock its 12th biggest position. Triata Capital Ltd owned approximately 0.11% of iQIYI at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in iQIYI in the fourth quarter valued at $8,488,000. Marshall Wace LLP raised its position in iQIYI by 1,423.3% in the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after acquiring an additional 2,626,502 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in iQIYI by 393.4% in 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 buying an additional 1,716,011 shares during the period. Catalyst Funds Management Pty Ltd acquired a new position in iQIYI during the 4th quarter worth $1,205,000. Finally, Bank of New York Mellon Corp grew its position in iQIYI by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after acquiring an additional 22,662 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Stock Performance

IQ traded down $0.01 during midday trading on Friday, reaching $0.91. The company’s stock had a trading volume of 6,809,638 shares, compared to its average volume of 8,638,382. The stock has a market cap of $878.26 million, a P/E ratio of -7.58 and a beta of 0.19. The company has a fifty day simple moving average of $1.16 and a 200 day simple moving average of $1.26. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.81. iQIYI, Inc. Sponsored ADR has a twelve month low of $0.90 and a twelve month high of $2.84.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IQ shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $1.40 target price on shares of iQIYI in a research report on Thursday, August 20th. JPMorgan Chase & Co. dropped their price objective on shares of iQIYI from $2.20 to $1.20 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. Zacks Research upgraded iQIYI from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Benchmark reissued a “hold” rating on shares of iQIYI in a research report on Wednesday, August 19th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $1.73.

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.