Arrowstreet Capital Limited Partnership Buys Shares of 3,132,709 iQIYI, Inc. (NASDAQ:IQ)

Arrowstreet Capital Limited Partnership acquired a new position in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,132,709 shares of the company's stock, valued at approximately $6,297,000. Arrowstreet Capital Limited Partnership owned about 0.33% of iQIYI at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of iQIYI during the 4th quarter worth approximately $32,000. PDS Planning Inc bought a new stake in iQIYI in the fourth quarter valued at $35,000. HighTower Advisors LLC lifted its stake in iQIYI by 102.9% in the third quarter. HighTower Advisors LLC now owns 19,840 shares of the company's stock valued at $56,000 after buying an additional 701,901 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of iQIYI during the fourth quarter valued at $47,000. Finally, Corient Private Wealth LLC grew its position in shares of iQIYI by 37.3% during the fourth quarter. Corient Private Wealth LLC now owns 28,138 shares of the company's stock worth $57,000 after acquiring an additional 7,645 shares during the last quarter. Institutional investors and hedge funds own 52.69% of the company's stock.

iQIYI Price Performance

Shares of IQ traded down $0.03 during midday trading on Friday, reaching $1.64. The stock had a trading volume of 87,486,768 shares, compared to its average volume of 20,074,723. The firm's 50 day moving average price is $2.19 and its 200-day moving average price is $2.25. iQIYI, Inc. has a 52 week low of $1.50 and a 52 week high of $5.80. The company has a market capitalization of $1.58 billion, a P/E ratio of 16.40, a P/E/G ratio of 4.13 and a beta of -0.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45.

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iQIYI (NASDAQ:IQ - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. The company had revenue of $919.56 million during the quarter, compared to analyst estimates of $6.62 billion. On average, analysts forecast that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

IQ has been the subject of a number of analyst reports. OTR Global reissued a "negative" rating on shares of iQIYI in a research note on Wednesday, January 8th. HSBC raised iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price objective for the company in a report on Thursday, January 16th. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a research note on Wednesday, February 19th. Hsbc Global Res raised iQIYI from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 16th. Finally, Citigroup lowered their price target on iQIYI from $3.00 to $2.80 and set a "buy" rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $2.91.

iQIYI Company Profile

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.