Garden State Investment Advisory Services LLC Makes New $835,000 Investment in iQIYI, Inc. (NASDAQ:IQ)

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

Several other hedge funds and other institutional investors have also recently made changes to their positions in IQ. Dimensional Fund Advisors LP increased its position in shares of iQIYI by 13.5% in 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 in the last quarter. Genesis Investment Management LLP lifted its holdings in shares of iQIYI by 112.1% in 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 in the last quarter. SG Americas Securities LLC increased its stake in shares of iQIYI by 8,351.7% during the 3rd quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock worth $2,875,000 after purchasing an additional 993,355 shares in the last quarter. American Century Companies Inc. raised its position in shares of iQIYI by 36.2% during the 2nd quarter. American Century Companies Inc. now owns 946,984 shares of the company’s stock worth $3,475,000 after purchasing an additional 251,813 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in iQIYI by 185.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock valued at $7,803,000 after buying an additional 1,381,265 shares in the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

Analysts Set New Price Targets

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

iQIYI Stock Up 2.3 %

Shares of NASDAQ IQ opened at $2.21 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $2.12 billion, a PE ratio of 10.80, a P/E/G ratio of 0.58 and a beta of 0.08. The firm has a fifty day moving average of $2.47 and a 200-day moving average of $3.10. iQIYI, Inc. has a 52-week low of $1.89 and a 52-week high of $5.80.

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.