Catalyst Funds Management Pty Ltd Purchases New Shares in iQIYI, Inc. (NASDAQ:IQ)

Catalyst Funds Management Pty Ltd bought a new stake in iQIYI, Inc. (NASDAQ:IQ - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 311,800 shares of the company's stock, valued at approximately $627,000.

Other hedge funds also recently bought and sold shares of the company. Flow Traders U.S. LLC acquired a new stake in iQIYI during the 3rd quarter worth approximately $32,000. SBI Securities Co. Ltd. acquired a new stake in shares of iQIYI during the fourth quarter worth $32,000. HighTower Advisors LLC lifted its position in iQIYI by 102.9% in the 3rd quarter. HighTower Advisors LLC now owns 19,840 shares of the company's stock valued at $56,000 after acquiring an additional 701,901 shares in the last quarter. Ballentine Partners LLC bought a new stake in iQIYI in the 4th quarter valued at $47,000. Finally, Public Employees Retirement System of Ohio acquired a new position in iQIYI in the 3rd quarter worth $88,000. 52.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on IQ shares. Benchmark restated a "hold" rating on shares of iQIYI in a report on Wednesday, February 19th. HSBC upgraded shares of iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price objective on the stock in a report on Thursday, January 16th. Citigroup reduced their target price on shares of iQIYI from $3.00 to $2.80 and set a "buy" rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. decreased their price objective on iQIYI from $2.50 to $1.80 and set a "neutral" rating for the company in a report on Friday, November 22nd. Finally, OTR Global reissued a "negative" rating on shares of iQIYI in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, iQIYI currently has an average rating of "Hold" and a consensus price target of $2.91.

Remove Ads

iQIYI Stock Performance

iQIYI stock traded down $0.11 during midday trading on Thursday, reaching $2.37. 56,359,032 shares of the company's stock were exchanged, compared to its average volume of 17,030,357. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44. The stock's 50-day simple moving average is $2.20 and its 200 day simple moving average is $2.27. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 4.13 and a beta of 0.05. iQIYI, Inc. has a 52 week low of $1.82 and a 52 week high of $5.80.

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

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.