Garden State Investment Advisory Services LLC Purchases Shares of 292,065 iQIYI, Inc. (NASDAQ:IQ)

Garden State Investment Advisory Services LLC acquired a new position in iQIYI, Inc. (NASDAQ:IQ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 292,065 shares of the company’s stock, valued at approximately $835,000.

Several other institutional investors have also recently modified their holdings of IQ. BNP Paribas Financial Markets grew its holdings in shares of iQIYI by 77.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company’s stock valued at $5,354,000 after purchasing an additional 815,226 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in iQIYI by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock valued at $21,443,000 after buying an additional 694,349 shares during the period. Genesis Investment Management LLP boosted its position in iQIYI by 112.1% during the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock valued at $47,425,000 after buying an additional 8,765,711 shares during the period. SG Americas Securities LLC grew its stake in shares of iQIYI by 8,351.7% during the third quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock valued at $2,875,000 after buying an additional 993,355 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of iQIYI by 36.2% in the second quarter. American Century Companies Inc. now owns 946,984 shares of the company’s stock worth $3,475,000 after buying an additional 251,813 shares during the period. 52.69% of the stock is currently owned by institutional investors.

iQIYI Stock Down 5.2 %

Shares of NASDAQ IQ traded down $0.12 during mid-day trading on Friday, hitting $2.17. 4,956,629 shares of the stock traded hands, compared to its average volume of 12,616,780. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 0.60 and a beta of 0.02. The stock has a fifty day moving average price of $2.39 and a 200-day moving average price of $2.95. iQIYI, Inc. has a 52 week low of $1.89 and a 52 week high of $5.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on IQ shares. JPMorgan Chase & Co. dropped their target price on iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a report on Friday, November 22nd. The Goldman Sachs Group lowered iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective for the company. in a research note on Tuesday, August 27th. Benchmark reiterated a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. Finally, Nomura Securities upgraded iQIYI to a “hold” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.15.

iQIYI Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.