New York State Common Retirement Fund Purchases New Holdings in iQIYI, Inc. (NASDAQ:IQ)

New York State Common Retirement Fund purchased a new stake in iQIYI, Inc. (NASDAQ:IQ) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,861 shares of the company’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds have also modified their holdings of IQ. Tarbox Family Office Inc. purchased a new position in iQIYI in the second quarter valued at about $31,000. Arkadios Wealth Advisors acquired a new stake in iQIYI during the second quarter valued at approximately $34,000. American International Group Inc. raised its stake in iQIYI by 28.1% during the first quarter. American International Group Inc. now owns 3,642 shares of the company’s stock valued at $61,000 after buying an additional 800 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in iQIYI during the second quarter valued at approximately $82,000. Finally, Clear Creek Financial Management LLC acquired a new stake in iQIYI during the second quarter valued at approximately $159,000. 34.16% of the stock is owned by hedge funds and other institutional investors.

IQ opened at $8.50 on Thursday. The stock has a fifty day moving average of $10.05 and a 200-day moving average of $14.26. The firm has a market capitalization of $6.66 billion, a P/E ratio of -7.87 and a beta of 0.78. iQIYI, Inc. has a 12-month low of $8.16 and a 12-month high of $28.97. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.55.

A number of brokerages have recently weighed in on IQ. OTR Global upgraded iQIYI from a “mixed” rating to a “positive” rating in a research report on Wednesday, July 7th. Zacks Investment Research raised iQIYI from a “sell” rating to a “hold” rating in a report on Thursday, August 19th. Finally, KeyCorp decreased their price objective on iQIYI from $26.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, August 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.53.

iQIYI Profile

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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Institutional Ownership by Quarter for iQIYI (NASDAQ:IQ)

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