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

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

IQ has been the subject of several other reports. Zacks Research raised iQIYI from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research note on Friday, March 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $2.22 price objective on shares of iQIYI in a research note on Thursday, February 26th. Finally, Wall Street Zen downgraded iQIYI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.55.

iQIYI Price Performance

NASDAQ:IQ opened at $1.13 on Tuesday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -37.67 and a beta of 0.19. iQIYI has a 1 year low of $1.07 and a 1 year high of $2.84. The business has a 50 day simple moving average of $1.27 and a 200-day simple moving average of $1.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.47 and a quick ratio of 0.47.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in iQIYI during the 4th quarter worth $8,488,000. 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in iQIYI by 393.4% during 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 worth $4,864,000 after purchasing an additional 1,716,011 shares during the period. Catalyst Funds Management Pty Ltd purchased a new position in iQIYI during the 4th quarter worth $1,205,000. Finally, 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 during the period. 52.69% of the stock is currently owned by hedge funds and other 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.