On May 4, 2023 at 11:06:24 ET an unusually large $152.50K block of Call contracts in iQIYI Inc – ADR (IQ) was bought, with a strike price of $3.00 / share, expiring in 15 day(s) (on May 19, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.44 sigmas above the mean, placing it in the 90.22th percentile of all recent large trades made in IQ options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 334 funds or institutions reporting positions in iQIYI Inc – ADR. This is an increase of 40 owner(s) or 13.61% in the last quarter. Average portfolio weight of all funds dedicated to IQ is 0.25%, an increase of 51.86%. Total shares owned by institutions decreased in the last three months by 3.48% to 264,553K shares. The put/call ratio of IQ is 1.39, indicating a bearish outlook.

Analyst Price Forecast Suggests 48.55% Upside

As of April 24, 2023, the average one-year price target for iQIYI Inc – ADR is 8.65. The forecasts range from a low of 2.83 to a high of $13.12. The average price target represents an increase of 48.55% from its latest reported closing price of 5.82.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for iQIYI Inc – ADR is 31,362MM, an increase of 8.15%. The projected annual non-GAAP EPS is 0.61.

What are Other Shareholders Doing?

Goldman Sachs Group holds 25,325K shares representing 2.65% ownership of the company. In it’s prior filing, the firm reported owning 20,245K shares, representing an increase of 20.06%. The firm increased its portfolio allocation in IQ by 136.87% over the last quarter.

Oasis Management Co holds 23,529K shares representing 2.46% ownership of the company. No change in the last quarter.

Bank Of America holds 23,174K shares representing 2.42% ownership of the company. In it’s prior filing, the firm reported owning 22,195K shares, representing an increase of 4.23%. The firm increased its portfolio allocation in IQ by 94.61% over the last quarter.

Krane Funds Advisors holds 14,566K shares representing 1.52% ownership of the company. In it’s prior filing, the firm reported owning 12,702K shares, representing an increase of 12.80%. The firm decreased its portfolio allocation in IQ by 99.82% over the last quarter.

KWEB – KraneShares CSI China Internet ETF holds 13,561K shares representing 1.42% ownership of the company. In it’s prior filing, the firm reported owning 11,763K shares, representing an increase of 13.25%. The firm increased its portfolio allocation in IQ by 80.20% over the last quarter.

iQIYI Background Information
(This description is provided by the company.)

iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI’s platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, professional user generated content and user-generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, online games, live broadcasting, IP licensing, talent agency, online literature and e-commerce etc.

See all iQIYI Inc – ADR regulatory filings.

This article originally appeared on Fintel