Tidal Investments LLC Makes New $164,000 Investment in iQIYI, Inc. (NASDAQ:IQ)

Tidal Investments LLC acquired a new stake in iQIYI, Inc. (NASDAQ:IQ) during the third quarter, Holdings Channel reports. The institutional investor acquired 57,239 shares of the company’s stock, valued at approximately $164,000.

A number of other institutional investors have also made changes to their positions in the business. 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 purchasing an additional 8,765,711 shares during the last quarter. Quarry LP acquired a new stake in shares of iQIYI in the 2nd quarter valued at approximately $18,075,000. Federated Hermes Inc. grew its stake in shares of iQIYI by 18.9% in the second quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock valued at $58,929,000 after buying an additional 2,549,287 shares in the last quarter. Monolith Management Ltd acquired a new position in iQIYI during the third quarter worth $4,576,000. Finally, The Manufacturers Life Insurance Company raised its position in iQIYI by 185.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock worth $7,803,000 after acquiring an additional 1,381,265 shares in the last quarter. Institutional investors own 52.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Friday, November 22nd. Benchmark reiterated a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.15.

iQIYI Stock Performance

NASDAQ IQ opened at $2.11 on Thursday. The stock has a market cap of $2.02 billion, a PE ratio of 10.55, a P/E/G ratio of 0.60 and a beta of 0.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a 50-day moving average of $2.29 and a 200-day moving average of $2.79. iQIYI, Inc. has a 52-week low of $1.89 and a 52-week high of $5.80.

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.