BNP Paribas Financial Markets Raises Stock Position in iQIYI, Inc. (NASDAQ:IQ)

BNP Paribas Financial Markets lifted its stake in iQIYI, Inc. (NASDAQ:IQ) by 77.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,871,931 shares of the company’s stock after purchasing an additional 815,226 shares during the period. BNP Paribas Financial Markets owned 0.20% of iQIYI worth $5,354,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in iQIYI by 2.4% in the first quarter. California State Teachers Retirement System now owns 127,426 shares of the company’s stock worth $539,000 after purchasing an additional 2,950 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in iQIYI by 59.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock valued at $81,000 after purchasing an additional 8,225 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of iQIYI in the 2nd quarter worth $31,000. Sei Investments Co. raised its stake in shares of iQIYI by 10.1% in the second quarter. Sei Investments Co. now owns 112,270 shares of the company’s stock worth $412,000 after purchasing an additional 10,342 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of iQIYI by 6.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,200 shares of the company’s stock valued at $687,000 after purchasing an additional 10,700 shares in the last quarter. Institutional investors own 52.69% of the company’s stock.

Wall Street Analyst Weigh In

IQ has been the subject of several research analyst reports. Benchmark reiterated a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. The Goldman Sachs Group cut shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective for the company. in a report on Tuesday, August 27th. JPMorgan Chase & Co. dropped their target price on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Finally, Nomura Securities upgraded shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, iQIYI has a consensus rating of “Hold” and a consensus price target of $3.15.

iQIYI Stock Up 3.7 %

Shares of IQ stock opened at $2.26 on Wednesday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. iQIYI, Inc. has a 12 month low of $1.89 and a 12 month high of $5.80. The stock has a market cap of $2.17 billion, a P/E ratio of 11.30, a P/E/G ratio of 0.55 and a beta of 0.02. The company has a 50 day simple moving average of $2.47 and a two-hundred day simple moving average of $3.05.

About iQIYI

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.