Triata Capital Ltd Makes New $1.15 Billion Investment in iQIYI, Inc. Sponsored ADR $IQ

Triata Capital Ltd purchased a new position in shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) during the second quarter, HoldingsChannel reports. The fund purchased 1,108,095 shares of the company’s stock, valued at approximately $1,152,419,000. iQIYI accounts for approximately 0.2% of Triata Capital Ltd’s holdings, making the stock its 12th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of iQIYI by 2.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock valued at $495,000 after purchasing an additional 8,900 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in iQIYI by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock worth $721,000 after purchasing an additional 22,662 shares in the last quarter. Marshall Wace LLP increased its holdings in iQIYI by 1,423.3% during the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after purchasing an additional 2,626,502 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of iQIYI in the 4th quarter valued at about $8,488,000. Finally, Parallel Advisors LLC raised its stake in shares of iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after purchasing an additional 5,077 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Stock Performance

iQIYI stock opened at $1.05 on Monday. The firm has a 50-day moving average of $1.16 and a 200-day moving average of $1.29. iQIYI, Inc. Sponsored ADR has a one year low of $0.95 and a one year high of $2.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.45 and a quick ratio of 0.45. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -8.79 and a beta of 0.19.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IQ shares. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research report on Wednesday. JPMorgan Chase & Co. cut their target price on iQIYI from $2.20 to $1.20 and set a “neutral” rating on the stock in a research note on Thursday. Wall Street Zen raised iQIYI from a “strong sell” rating to a “sell” rating in a research report on Saturday. Zacks Research raised shares of iQIYI from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $1.40 price objective on shares of iQIYI in a report on Thursday. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $1.73.

About iQIYI

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.