Krane Funds Advisors LLC recently announced the acquisition of new stake in iQIYI Inc ADR (NASDAQ:IQ). The institutional investor has increased its shareholding in the Communication Services company by 14.64% to 18.73 million shares with purchase of 2.39 million shares. This fresh investment now brings its stake to 3.59% valued currently at $84.09 million. In addition, Robeco Institutional Asset Manage raised its holdings by 15.93 million to 17.36 million shares. And FIL Investment Management has lifted its position by 40.30% or 4.51 million shares – to 15.71 million shares.
With over 9.59 million iQIYI Inc ADR (IQ) shares trading Monday and a closing price of $4.55 on the day, the dollar volume was approximately $43.64 million. The shares have shown a negative half year performance of -11.13% and its price on 01/08/24 lost nearly -2.99%. Currently, there are 522.25M common shares owned by the public and among those 521.87M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 28 analysts who have offered their price forecasts for IQ have a consensus price objective of $50.02. The analysts have set the share’s price value over the next 12 months at a high of $71.34 and a low of $35.67. The average price target is 35.46% above its recent price level and an upside to the estimated low will see the stock gain 87.24% over that period. But an upside of 93.62% will see the stock hit the forecast high price target while median target price for the stock is $50.03.
The top 3 mutual fund holders in iQIYI Inc ADR are KraneShares CSI China Internet ET, Fidelity Funds SICAV – China Cons, and Robeco Capital Gr. Fds. – Emergin. KraneShares CSI China Internet ET owns 17.68 million shares of the company’s stock, all valued at over $79.38 million. Fidelity Funds SICAV – China Cons bought 2051.0 shares to see its total holdings expand to 15.86 million shares valued at over $71.21 million and representing 3.04% of the shares outstanding. Robeco Capital Gr. Fds. – Emergin now owns shares totaling to 1.56% of the shares outstanding.
Shares of iQIYI Inc ADR (NASDAQ: IQ) opened at $4.60, down -$0.09 from a prior closing price of $4.69. However, the script later moved the day high at 4.6000, down -2.99%. The company’s stock has a 5-day price change of -6.76% and -4.21% over the past three months. IQ shares are trading -6.76% year to date (YTD), with the 12-month market performance down to -33.67% lower. It has a 12-month low price of $3.94 and touched a high of $7.99 over the same period. IQ has an average intraday trading volume of 7.86 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.01%, -4.06%, and -13.29% respectively.
Institutional ownership of iQIYI Inc ADR (NASDAQ: IQ) shares accounts for 58.73% of the company’s 522.25M shares outstanding. Mutual fund holders own 25.75%, while other institutional holders and individual stakeholders account for 33.10% and — respectively.
It has a market capitalization of $2.38B and a beta (3y monthly) value of 0.28. The stock’s trailing 12-month PE ratio is 17.31, while the earnings-per-share (ttm) stands at $0.26. The company has a PEG of 3.85 and a Quick Ratio of 0.51 with the debt-to-equity ratio at 1.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.10% over the week and 3.33% over the month.
Analysts forecast that iQIYI Inc ADR (IQ) will achieve an EPS of $0.07 for the current quarter, $0.07 for the next quarter and $0.41 for 2024. The lowest estimate earnings-per-share for the quarter is $0.06 while analysts give the company a high EPS estimate of $0.08. Comparatively, EPS for the current quarter was $0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 94.44%, and 29.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 28 brokerage firm advisors rate iQIYI Inc ADR (IQ) as a “Strong Buy” at a consensus score of 1.71. Specifically, 16 Wall Street analysts polled rate the stock as a buy, while 8 of the 28 advise that investors “hold,” and 0 rated it as a “Sell.”
