Monolith Management Ltd Invests $4.58 Million in iQIYI, Inc. (NASDAQ:IQ)

Monolith Management Ltd bought a new position in iQIYI, Inc. (NASDAQ:IQ - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,600,000 shares of the company's stock, valued at approximately $4,576,000. iQIYI makes up about 2.7% of Monolith Management Ltd's holdings, making the stock its 11th biggest holding. Monolith Management Ltd owned approximately 0.17% of iQIYI at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IQ. California State Teachers Retirement System raised its holdings in iQIYI by 2.4% in the 1st quarter. California State Teachers Retirement System now owns 127,426 shares of the company's stock valued at $539,000 after acquiring an additional 2,950 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in iQIYI by 59.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company's stock valued at $81,000 after acquiring an additional 8,225 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of iQIYI during the second quarter worth $31,000. Sei Investments Co. grew its holdings in iQIYI by 10.1% during the 2nd quarter. Sei Investments Co. now owns 112,270 shares of the company's stock worth $412,000 after acquiring an additional 10,342 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of iQIYI by 6.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,200 shares of the company's stock valued at $687,000 after buying an additional 10,700 shares during the period. 52.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IQ has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on iQIYI from $2.50 to $1.80 and set a "neutral" rating on the stock in a research note on Friday. The Goldman Sachs Group cut iQIYI from a "buy" rating to a "neutral" rating and set a $2.80 price objective on the stock. in a report on Tuesday, August 27th. Benchmark reissued a "hold" rating on shares of iQIYI in a research report on Friday. Finally, Nomura Securities raised iQIYI to a "hold" rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $3.15.

iQIYI Trading Up 7.4 %

NASDAQ:IQ traded up $0.15 on Monday, hitting $2.10. The stock had a trading volume of 31,213,107 shares, compared to its average volume of 11,889,090. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 0.53 and a beta of 0.08. iQIYI, Inc. has a 1-year low of $1.89 and a 1-year high of $5.80. The company has a fifty day moving average price of $2.47 and a two-hundred day moving average price of $3.20. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65.

iQIYI (NASDAQ:IQ - Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05). The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a net margin of 4.69% and a return on equity of 13.26%. During the same period in the prior year, the firm posted $0.05 earnings per share. Equities research analysts expect that iQIYI, Inc. will post 0.16 earnings per share for the current fiscal 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.