Zurcher Kantonalbank Zurich Cantonalbank Invests $113,000 in IQIYI Inc (IQ) Stock
Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of IQIYI Inc (NASDAQ:IQ) in the second quarter, Holdings Channel reports. The firm purchased 3,500 shares of the company’s stock, valued at approximately $113,000.
A number of other hedge funds also recently added to or reduced their stakes in IQ. Tiger Pacific Capital LP lifted its stake in IQIYI by 363.2% in the second quarter. Tiger Pacific Capital LP now owns 231,599 shares of the company’s stock valued at $7,481,000 after purchasing an additional 181,599 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in IQIYI during the 2nd quarter valued at $208,000. LMR Partners LLP bought a new stake in IQIYI during the 2nd quarter valued at $9,625,000. Sigma Planning Corp bought a new stake in IQIYI during the 2nd quarter valued at $291,000. Finally, D.A. Davidson & CO. bought a new stake in IQIYI during the 2nd quarter valued at $300,000. Institutional investors and hedge funds own 5.58% of the company’s stock.
Shares of IQ stock opened at $30.50 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.31 and a quick ratio of 1.31. IQIYI Inc has a 1 year low of $15.30 and a 1 year high of $46.23.
IQ has been the topic of a number of analyst reports. Bank of America boosted their target price on shares of IQIYI from $35.50 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, August 1st. Zacks Investment Research raised shares of IQIYI from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Saturday, August 4th. Goldman Sachs Group initiated coverage on shares of IQIYI in a report on Tuesday, May 8th. They set a “buy” rating and a $23.00 target price on the stock. Finally, Credit Suisse Group cut shares of IQIYI from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $30.00.
IQIYI Company Profile
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.
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