Genesis Investment Management LLP lowered its holdings in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) by 76.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,921,494 shares of the company's stock after selling 12,660,689 shares during the period. iQIYI comprises about 8.7% of Genesis Investment Management LLP's investment portfolio, making the stock its 3rd biggest position. Genesis Investment Management LLP owned 0.41% of iQIYI worth $7,882,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of IQ. Skandinaviska Enskilda Banken AB publ bought a new stake in iQIYI in the second quarter valued at $31,000. Sei Investments Co. grew its holdings in shares of iQIYI by 10.1% during the second quarter. Sei Investments Co. now owns 112,270 shares of the company's stock valued at $412,000 after buying an additional 10,342 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in iQIYI by 6.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,200 shares of the company's stock worth $687,000 after acquiring an additional 10,700 shares during the last quarter. Flow Traders U.S. LLC bought a new position in iQIYI in the 3rd quarter valued at approximately $32,000. Finally, Ground Swell Capital LLC purchased a new stake in iQIYI during the 3rd quarter valued at $32,000. 52.69% of the stock is owned by institutional investors.
iQIYI Stock Performance
Shares of NASDAQ:IQ traded up $0.04 during trading on Tuesday, hitting $1.98. The company's stock had a trading volume of 23,602,391 shares, compared to its average volume of 16,089,445. The company has a 50-day moving average of $2.09 and a 200-day moving average of $2.53. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 2.03 and a beta of 0.02. iQIYI, Inc. has a 12 month low of $1.82 and a 12 month high of $5.80.
iQIYI (NASDAQ:IQ - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. iQIYI had a net margin of 4.69% and a return on equity of 13.26%. During the same quarter in the prior year, the business posted $0.07 earnings per share. On average, sell-side analysts expect that iQIYI, Inc. will post 0.17 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on IQ. Citigroup decreased their price target on iQIYI from $3.00 to $2.80 and set a "buy" rating for the company in a research note on Thursday, January 16th. OTR Global reissued a "negative" rating on shares of iQIYI in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on shares of iQIYI from $2.50 to $1.80 and set a "neutral" rating on the stock in a report on Friday, November 22nd. Benchmark reissued a "hold" rating on shares of iQIYI in a report on Friday, November 22nd. Finally, Hsbc Global Res upgraded shares of iQIYI from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $2.91.
Check Out Our Latest Stock Report on IQ
About iQIYI
(
Free Report)
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.
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