Federated Hermes Inc. Has $13.03 Million Stock Position in iQIYI, Inc. (NASDAQ:IQ)

Federated Hermes Inc. decreased its holdings in iQIYI, Inc. (NASDAQ:IQ - Free Report) by 39.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,484,221 shares of the company's stock after selling 4,171,133 shares during the quarter. Federated Hermes Inc. owned 0.68% of iQIYI worth $13,033,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of IQ. Arrowstreet Capital Limited Partnership bought a new position in iQIYI during the fourth quarter valued at about $6,297,000. Norges Bank bought a new position in shares of iQIYI during the 4th quarter valued at about $3,914,000. Robeco Institutional Asset Management B.V. grew its stake in shares of iQIYI by 4.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company's stock worth $48,959,000 after purchasing an additional 1,114,390 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of iQIYI in the 4th quarter worth approximately $1,998,000. Finally, E Fund Management Co. Ltd. lifted its stake 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 valued at $5,362,000 after purchasing an additional 756,552 shares during the last quarter. 52.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IQ has been the topic of several recent research reports. Hsbc Global Res upgraded shares of iQIYI from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 16th. HSBC raised 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. OTR Global reiterated a "negative" rating on shares of iQIYI in a research report on Wednesday, January 8th. Benchmark restated a "hold" rating on shares of iQIYI in a report on Wednesday, February 19th. Finally, Citigroup decreased 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $2.91.

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iQIYI Stock Up 1.2 %

iQIYI stock traded up $0.02 during mid-day trading on Monday, hitting $1.66. The company's stock had a trading volume of 62,561,056 shares, compared to its average volume of 20,296,879. iQIYI, Inc. has a 52-week low of $1.50 and a 52-week high of $5.80. The company has a market cap of $1.60 billion, a PE ratio of 16.60, a price-to-earnings-growth 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. The firm's 50 day moving average is $2.19 and its 200 day moving average is $2.25.

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

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.