Stock Traders Purchase High Volume of Call Options on iQIYI (NASDAQ:IQ)

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) was the recipient of some unusual options trading activity on Friday. Investors bought 18,661 call options on the company. This represents an increase of approximately 245% compared to the average volume of 5,414 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in shares of iQIYI by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock worth $1,107,000 after purchasing an additional 6,900 shares in the last quarter. SG Americas Securities LLC grew its holdings in iQIYI by 33.0% during the second quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock valued at $2,781,000 after purchasing an additional 390,088 shares during the period. SBI Securities Co. Ltd. increased its position in iQIYI by 199.7% in the second quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock worth $80,000 after buying an additional 29,999 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of iQIYI by 393.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock worth $4,864,000 after buying an additional 1,716,011 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of iQIYI by 102.3% during the 1st quarter. HighTower Advisors LLC now owns 15,639 shares of the company’s stock valued at $35,000 after buying an additional 698,342 shares in the last quarter. 52.69% of the stock is owned by hedge funds and other institutional investors.

iQIYI Stock Up 8.6%

iQIYI stock traded up $0.17 during trading hours on Friday, hitting $2.09. The stock had a trading volume of 8,669,705 shares, compared to its average volume of 11,251,415. The stock’s 50-day moving average price is $2.08 and its 200-day moving average price is $2.14. The stock has a market capitalization of $2.01 billion, a P/E ratio of -34.75 and a beta of 0.03. iQIYI has a 12-month low of $1.50 and a 12-month high of $2.84. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.75.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a research report on Monday. Morgan Stanley set a $2.10 target price on shares of iQIYI in a report on Wednesday, November 19th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.57.

iQIYI Company Profile

iQIYI, Inc is a leading online entertainment service provider headquartered in Beijing, China, offering a comprehensive portfolio of streaming video content across multiple genres. The company operates a subscription-based video-on-demand (SVOD) platform, complemented by advertising-supported content (AVOD) and pay-per-view offerings. Its digital library encompasses original series, feature films, variety shows, animation and documentaries, catering to diverse demographic segments and viewer preferences.

Originally launched by Baidu in 2010 as an online video site, iQIYI was formally rebranded in early 2012 and has since expanded its footprint beyond China’s domestic market.