Harvest Fund Management Co. Ltd Increases Holdings in iQIYI, Inc. (NASDAQ:IQ)

Harvest Fund Management Co. Ltd lifted its stake in iQIYI, Inc. (NASDAQ:IQ - Free Report) by 13.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,228,223 shares of the company's stock after purchasing an additional 393,834 shares during the quarter. Harvest Fund Management Co. Ltd owned about 0.34% of iQIYI worth $6,489,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Flow Traders U.S. LLC acquired a new stake in iQIYI during the 3rd quarter worth about $32,000. SBI Securities Co. Ltd. acquired a new stake in shares of iQIYI during the fourth quarter worth about $32,000. PDS Planning Inc purchased a new stake in iQIYI in the fourth quarter valued at approximately $35,000. Ballentine Partners LLC acquired a new position in iQIYI in the 4th quarter worth approximately $47,000. Finally, HighTower Advisors LLC increased its holdings in iQIYI by 102.9% in the 3rd quarter. HighTower Advisors LLC now owns 19,840 shares of the company's stock worth $56,000 after buying an additional 701,901 shares during the period. 52.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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iQIYI Price Performance

iQIYI stock traded down $0.09 during midday trading on Friday, reaching $2.28. The company had a trading volume of 41,356,582 shares, compared to its average volume of 17,255,558. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45. iQIYI, Inc. has a 12-month low of $1.82 and a 12-month high of $5.80. The company has a market capitalization of $2.19 billion, a P/E ratio of 22.80, a P/E/G ratio of 4.13 and a beta of 0.05. The firm's fifty day simple moving average is $2.22 and its 200-day simple moving average is $2.27.

iQIYI (NASDAQ:IQ - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $6.62 billion. As a group, equities analysts anticipate that iQIYI, Inc. will post 0.04 EPS 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.