iQIYI (NASDAQ:IQ) Receives "Hold" Rating from Benchmark

Benchmark reaffirmed their hold rating on shares of iQIYI (NASDAQ:IQ - Free Report) in a report issued on Friday morning,Benzinga reports.

Several other research analysts have also weighed in on IQ. The Goldman Sachs Group lowered iQIYI from a "buy" rating to a "neutral" rating and set a $2.80 price target on the stock. in a research report on Tuesday, August 27th. Nomura Securities raised shares of iQIYI to a "hold" rating in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $3.15.

iQIYI Price Performance

NASDAQ IQ traded down $0.07 on Friday, reaching $1.95. 14,927,817 shares of the stock traded hands, compared to its average volume of 15,220,365. iQIYI has a 12 month low of $1.92 and a 12 month high of $5.80. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 0.55 and a beta of 0.08. The firm's fifty day simple moving average is $2.47 and its 200 day simple moving average is $3.23. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67.

iQIYI (NASDAQ:IQ - Get Free Report) last released its earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.05). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a return on equity of 13.43% and a net margin of 4.69%. During the same period in the previous year, the firm earned $0.05 earnings per share. As a group, research analysts predict that iQIYI will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On iQIYI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in shares of iQIYI during the 3rd quarter worth about $282,000. Geode Capital Management LLC grew its stake in shares of iQIYI by 3.6% in the third quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company's stock worth $9,256,000 after acquiring an additional 112,709 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in iQIYI during the 3rd quarter valued at $88,000. XTX Topco Ltd boosted its holdings in iQIYI by 344.6% in the 3rd quarter. XTX Topco Ltd now owns 126,659 shares of the company's stock valued at $362,000 after purchasing an additional 98,169 shares during the period. Finally, HighTower Advisors LLC grew its position in iQIYI by 102.9% during the third quarter. HighTower Advisors LLC now owns 19,840 shares of the company's stock worth $56,000 after buying an additional 701,901 shares in the last quarter. 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.