E Fund Management Co. Ltd. Buys 756,552 Shares of iQIYI, Inc. (NASDAQ:IQ)

E Fund Management Co. Ltd. boosted its stake in iQIYI, Inc. (NASDAQ:IQ - Free Report) by 39.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,667,758 shares of the company's stock after purchasing an additional 756,552 shares during the quarter. E Fund Management Co. Ltd. owned about 0.28% of iQIYI worth $5,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IQ. Creative Planning grew its stake in iQIYI by 31.5% in the third quarter. Creative Planning now owns 108,280 shares of the company's stock valued at $310,000 after acquiring an additional 25,961 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of iQIYI by 181.1% in the 3rd quarter. Principal Financial Group Inc. now owns 101,500 shares of the company's stock worth $290,000 after purchasing an additional 65,396 shares in the last quarter. GSA Capital Partners LLP grew its position in iQIYI by 127.2% in the 3rd quarter. GSA Capital Partners LLP now owns 66,789 shares of the company's stock valued at $191,000 after purchasing an additional 37,396 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new stake in iQIYI during the 3rd quarter valued at $523,000. Finally, One Wealth Management Investment & Advisory Services LLC acquired a new position in iQIYI during the third quarter worth $72,000. 52.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IQ. Hsbc Global Res upgraded shares of iQIYI from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 16th. OTR Global reiterated a "negative" rating on shares of iQIYI in a research note on Wednesday, January 8th. 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. Citigroup dropped their target price on iQIYI from $3.00 to $2.80 and set a "buy" rating on the stock in a report on Thursday, January 16th. Finally, HSBC upgraded iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price target for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, iQIYI presently has a consensus rating of "Hold" and a consensus target price of $2.91.

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iQIYI Stock Performance

Shares of iQIYI stock traded down $0.09 during mid-day trading on Monday, hitting $2.26. 33,866,870 shares of the stock were exchanged, compared to its average volume of 16,114,756. iQIYI, Inc. has a 12 month low of $1.82 and a 12 month high of $5.80. The company has a 50-day simple moving average of $2.15 and a 200 day simple moving average of $2.26. The company has a market capitalization of $2.17 billion, a P/E ratio of 22.60, a P/E/G ratio of 4.13 and a beta of 0.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44.

iQIYI (NASDAQ:IQ - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. The business had revenue of $919.56 million for the quarter, compared to analyst estimates of $6.62 billion. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. Sell-side analysts anticipate 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.