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

Franklin Resources Inc. raised its stake in iQIYI, Inc. (NASDAQ:IQ) by 16.0% during the 3rd quarter, Holdings Channel.com reports. The firm 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 filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Genesis Investment Management LLP grew its stake in iQIYI by 112.1% in the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock valued at $47,425,000 after buying an additional 8,765,711 shares during the last quarter. Quarry LP acquired a new position in shares of iQIYI in the second quarter valued at approximately $18,075,000. Federated Hermes Inc. increased its stake in shares of iQIYI by 18.9% during the second quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock worth $58,929,000 after purchasing an additional 2,549,287 shares during the period. Monolith Management Ltd acquired a new stake in iQIYI during the 3rd quarter worth approximately $4,576,000. Finally, The Manufacturers Life Insurance Company boosted its stake in iQIYI by 185.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock valued at $7,803,000 after purchasing an additional 1,381,265 shares during the period. 52.69% of the stock is owned by institutional investors.

iQIYI Price Performance

Shares of NASDAQ:IQ opened at $2.02 on Tuesday. The firm has a 50 day moving average of $2.27 and a 200-day moving average of $2.74. iQIYI, Inc. has a 12 month low of $1.89 and a 12 month high of $5.80. 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 stock has a market capitalization of $1.94 billion, a PE ratio of 10.10, a PEG ratio of 0.58 and a beta of 0.02.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IQ shares. Benchmark reissued a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. JPMorgan Chase & Co. cut their price objective on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.