Norges Bank acquired a new stake in iQIYI, Inc. (NASDAQ:IQ - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,947,461 shares of the company's stock, valued at approximately $3,914,000. Norges Bank owned about 0.20% of iQIYI at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its holdings in iQIYI by 4.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company's stock worth $48,959,000 after acquiring an additional 1,114,390 shares during the period. Vanguard Group Inc. grew its stake in shares of iQIYI by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 18,293,085 shares of the company's stock worth $36,769,000 after purchasing an additional 502,154 shares during the period. Geode Capital Management LLC increased its holdings in shares of iQIYI by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company's stock valued at $9,256,000 after purchasing an additional 112,709 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of iQIYI by 13.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,228,223 shares of the company's stock valued at $6,489,000 after purchasing an additional 393,834 shares during the period. Finally, E Fund Management Co. Ltd. boosted its holdings in iQIYI by 39.6% during the fourth quarter. E Fund Management Co. Ltd. now owns 2,667,758 shares of the company's stock worth $5,362,000 after buying an additional 756,552 shares in the last quarter. 52.69% of the stock is owned by institutional investors and hedge funds.
iQIYI Price Performance
Shares of NASDAQ IQ traded up $0.11 during trading on Tuesday, reaching $1.75. The company had a trading volume of 51,225,988 shares, compared to its average volume of 35,765,473. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.68 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 4.13 and a beta of -0.18. iQIYI, Inc. has a twelve month low of $1.50 and a twelve month high of $5.80. The stock has a 50-day moving average price of $2.18 and a two-hundred day moving average price of $2.24.
iQIYI (NASDAQ:IQ - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. The company had revenue of $919.56 million for the quarter, compared to analyst estimates of $6.62 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. As a group, sell-side analysts predict that iQIYI, Inc. will post 0.04 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. OTR Global reaffirmed a "negative" rating on shares of iQIYI in a report on Wednesday, January 8th. Citigroup reduced their price objective on iQIYI from $3.00 to $2.80 and set a "buy" rating for the company in a report on Thursday, January 16th. Benchmark reissued a "hold" rating on shares of iQIYI in a report on Wednesday, February 19th. HSBC upgraded iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price target for the company in a research report on Thursday, January 16th. Finally, Hsbc Global Res raised shares of iQIYI from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $2.91.
Check Out Our Latest Stock Report on IQ
About iQIYI
(
Free Report)
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.
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