Bank of New York Mellon Corp Reduces Position in iQIYI, Inc. (NASDAQ:IQ)

Bank of New York Mellon Corp lowered its stake in iQIYI, Inc. (NASDAQ:IQ - Free Report) by 41.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 469,193 shares of the company's stock after selling 333,157 shares during the period. Bank of New York Mellon Corp's holdings in iQIYI were worth $943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Flow Traders U.S. LLC purchased a new position in iQIYI in the third quarter valued at $32,000. Ballentine Partners LLC acquired a new position in shares of iQIYI during the 4th quarter worth about $47,000. HighTower Advisors LLC boosted its position in shares of iQIYI by 102.9% during the 3rd quarter. HighTower Advisors LLC now owns 19,840 shares of the company's stock worth $56,000 after acquiring an additional 701,901 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of iQIYI in the 3rd quarter valued at about $88,000. Finally, Tidal Investments LLC acquired a new stake in shares of iQIYI during the 3rd quarter worth about $164,000. Hedge funds and other institutional investors own 52.69% of the company's stock.

iQIYI Price Performance

Shares of NASDAQ:IQ traded down $0.12 on Friday, reaching $2.25. 35,408,090 shares of the company were exchanged, compared to its average volume of 17,976,537. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70. iQIYI, Inc. has a 1-year low of $1.82 and a 1-year high of $5.80. The company has a 50-day moving average of $2.26 and a 200-day moving average of $2.28. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 4.13 and a beta of 0.05.

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iQIYI (NASDAQ:IQ - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.62 billion. Equities analysts forecast that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

iQIYI 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.