iQIYI, Inc. (NASDAQ:IQ) Receives Average Recommendation of "Reduce" from Brokerages

Shares of iQIYI, Inc. (NASDAQ:IQ - Get Free Report) have been assigned an average rating of "Reduce" from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $3.15.

Several equities analysts recently weighed in on IQ shares. Benchmark reiterated a "hold" rating on shares of iQIYI in a report on Friday, November 22nd. OTR Global restated a "negative" rating on shares of iQIYI in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price objective on iQIYI from $2.50 to $1.80 and set a "neutral" rating for the company in a research note on Friday, November 22nd.

iQIYI Trading Up 0.5 %

Shares of NASDAQ IQ traded up $0.01 during trading hours on Wednesday, reaching $1.86. The stock had a trading volume of 10,270,470 shares, compared to its average volume of 14,957,072. iQIYI has a 52-week low of $1.82 and a 52-week high of $5.80. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. The business's fifty day moving average price is $2.13 and its two-hundred day moving average price is $2.59. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 0.58 and a beta of 0.02.

Hedge Funds Weigh In On iQIYI

A number of institutional investors have recently modified their holdings of IQ. Genesis Investment Management LLP boosted its stake in shares of iQIYI by 112.1% during the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company's stock valued at $47,425,000 after buying an additional 8,765,711 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in iQIYI by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company's stock valued at $21,443,000 after purchasing an additional 694,349 shares during the last quarter. Quarry LP acquired a new stake in shares of iQIYI in the second quarter valued at approximately $18,075,000. Geode Capital Management LLC raised its stake in iQIYI by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company's stock valued at $9,256,000 after acquiring an additional 112,709 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in iQIYI by 185.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company's stock worth $7,803,000 after purchasing an additional 1,381,265 shares during the period. Institutional investors and hedge funds own 52.69% of the company's stock.

About iQIYI

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.