Stock Traders Buy Large Volume of Put Options on iQIYI (NASDAQ:IQ)

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) saw some unusual options trading on Tuesday. Stock investors bought 89,145 put options on the company. This represents an increase of 2,452% compared to the typical daily volume of 3,493 put options.

iQIYI Stock Down 0.4%

IQ traded down $0.01 on Thursday, hitting $1.18. 733,874 shares of the company were exchanged, compared to its average volume of 10,089,759. iQIYI has a 12 month low of $1.07 and a 12 month high of $2.84. The company has a market cap of $1.13 billion, a PE ratio of -39.17 and a beta of 0.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.47 and a current ratio of 0.47. The stock’s fifty day moving average is $1.29 and its 200-day moving average is $1.76.

Institutional Trading of iQIYI

Several institutional investors and hedge funds have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in iQIYI in the fourth quarter valued at approximately $8,488,000. Marshall Wace LLP raised its stake in iQIYI by 1,423.3% in the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock valued at $5,397,000 after buying an additional 2,626,502 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 valued at $4,864,000 after buying an additional 1,716,011 shares during the period. Catalyst Funds Management Pty Ltd bought a new stake in iQIYI in the fourth quarter valued at approximately $1,205,000. Finally, Bank of New York Mellon Corp raised its stake in iQIYI by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after buying an additional 22,662 shares during the period. Institutional investors own 52.69% of the company’s stock.

Wall Street Analysts Forecast Growth

IQ has been the topic of several analyst reports. Wall Street Zen lowered iQIYI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a report on Friday, March 27th. Zacks Research upgraded iQIYI from a “strong sell” rating to a “hold” rating in a report on Thursday, March 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $2.22 target price on shares of iQIYI in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2.55.

About iQIYI

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.