Zurcher Kantonalbank Zurich Cantonalbank increased its stake in IQIYI Inc (NASDAQ:IQ) by 21.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,097 shares of the company’s stock after acquiring an additional 2,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in IQIYI were worth $210,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its position in shares of IQIYI by 155.3% during the fourth quarter. Bank of Montreal Can now owns 2,470,252 shares of the company’s stock valued at $36,732,000 after buying an additional 1,502,517 shares during the period. LPL Financial LLC boosted its holdings in shares of IQIYI by 34.3% in the third quarter. LPL Financial LLC now owns 126,494 shares of the company’s stock valued at $3,424,000 after purchasing an additional 32,335 shares during the period. Bank of America Corp DE boosted its holdings in shares of IQIYI by 16.8% in the second quarter. Bank of America Corp DE now owns 291,901 shares of the company’s stock valued at $9,429,000 after purchasing an additional 41,901 shares during the period. North Star Investment Management Corp. purchased a new stake in shares of IQIYI in the fourth quarter valued at approximately $86,000. Finally, Nepsis Inc. boosted its holdings in shares of IQIYI by 5.4% in the third quarter. Nepsis Inc. now owns 250,285 shares of the company’s stock valued at $6,775,000 after purchasing an additional 12,755 shares during the period. Institutional investors own 8.26% of the company’s stock.
A number of equities analysts recently commented on the stock. HSBC assumed coverage on shares of IQIYI in a research note on Wednesday, December 12th. They issued a “hold” rating and a $22.00 price objective for the company. ValuEngine downgraded shares of IQIYI from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. China Renaissance Securities set a $28.00 price objective on shares of IQIYI and gave the stock a “buy” rating in a research note on Thursday, January 17th. Zacks Investment Research downgraded shares of IQIYI from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Credit Suisse Group raised shares of IQIYI from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $29.00.
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.
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