Franklin Resources Inc. Has $496,000 Stock Position in iQIYI, Inc. (NASDAQ:IQ)

Franklin Resources Inc. raised its position in iQIYI, Inc. (NASDAQ:IQ) by 16.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,386 shares of the company’s stock after buying an additional 23,926 shares during the period. Franklin Resources Inc.’s holdings in iQIYI were worth $496,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in iQIYI by 59.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock worth $81,000 after purchasing an additional 8,225 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of iQIYI during the second quarter valued at $31,000. Sei Investments Co. lifted its stake in shares of iQIYI by 10.1% during the second quarter. Sei Investments Co. now owns 112,270 shares of the company’s stock valued at $412,000 after acquiring an additional 10,342 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in iQIYI by 6.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,200 shares of the company’s stock valued at $687,000 after acquiring an additional 10,700 shares during the last quarter. Finally, Flow Traders U.S. LLC acquired a new stake in iQIYI in the third quarter worth about $32,000. 52.69% of the stock is owned by institutional investors.

iQIYI Price Performance

Shares of IQ opened at $2.02 on Tuesday. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.58 and a beta of 0.02. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $2.27 and its 200 day simple moving average is $2.74. iQIYI, Inc. has a 1-year low of $1.89 and a 1-year high of $5.80.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Friday, November 22nd. Benchmark reiterated 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 issued a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.15.

About iQIYI

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.