Berkshire Capital Holdings Inc. Invests $1.45 Million in IQIYI Inc (IQ)
Berkshire Capital Holdings Inc. acquired a new position in shares of IQIYI Inc (NASDAQ:IQ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 44,790 shares of the company’s stock, valued at approximately $1,447,000. IQIYI makes up 0.9% of Berkshire Capital Holdings Inc.’s holdings, making the stock its 21st largest position.
Several other hedge funds and other institutional investors have also recently bought and sold shares of IQ. PNC Financial Services Group Inc. acquired a new stake in shares of IQIYI during the second quarter worth approximately $105,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of IQIYI in the second quarter valued at approximately $113,000. BB&T Securities LLC acquired a new stake in shares of IQIYI in the first quarter valued at approximately $171,000. SeaCrest Wealth Management LLC acquired a new stake in shares of IQIYI in the second quarter valued at approximately $208,000. Finally, GAM Holding AG acquired a new stake in shares of IQIYI in the second quarter valued at approximately $216,000. 5.58% of the stock is owned by institutional investors.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of IQIYI from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Saturday, August 4th. Goldman Sachs Group lowered shares of IQIYI from a “buy” rating to a “neutral” rating and set a $23.00 price target for the company. in a report on Thursday, August 2nd. They noted that the move was a valuation call. Bank of America raised their price target on shares of IQIYI from $35.50 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, August 1st. Finally, Credit Suisse Group lowered 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 company has an average rating of “Hold” and a consensus price target of $30.00.
IQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Tuesday, July 31st. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.30) by $1.85. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.26 billion. The firm’s revenue was up 42.6% compared to the same quarter last year. equities analysts predict that IQIYI Inc will post -1.13 EPS for the current fiscal year.
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.
Want to see what other hedge funds are holding IQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IQIYI Inc (NASDAQ:IQ).
Receive News & Ratings for IQIYI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IQIYI and related companies with MarketBeat.com's FREE daily email newsletter.