iQIYI, Inc. (NASDAQ:IQ) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC lowered its position in iQIYI, Inc. (NASDAQ:IQ - Free Report) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,954,582 shares of the company's stock after selling 660,816 shares during the quarter. iQIYI accounts for 1.2% of Krane Funds Advisors LLC's investment portfolio, making the stock its 14th biggest position. Krane Funds Advisors LLC owned 1.25% of iQIYI worth $34,190,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IQ. Vanguard Group Inc. raised its stake in shares of iQIYI by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,756,701 shares of the company's stock valued at $86,653,000 after acquiring an additional 170,227 shares during the period. Genesis Investment Management LLP increased its holdings in iQIYI by 112.1% in the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company's stock valued at $47,425,000 after purchasing an additional 8,765,711 shares in the last quarter. Federated Hermes Inc. raised its position in iQIYI by 18.9% in the second quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company's stock valued at $58,929,000 after purchasing an additional 2,549,287 shares during the period. Maple Rock Capital Partners Inc. lifted its stake in shares of iQIYI by 65.4% during the first quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company's stock worth $43,654,000 after purchasing an additional 4,080,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of iQIYI by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company's stock worth $21,443,000 after buying an additional 694,349 shares during the period. Hedge funds and other institutional investors own 52.69% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IQ. The Goldman Sachs Group downgraded iQIYI from a "buy" rating to a "neutral" rating and set a $2.80 target price on the stock. in a report on Tuesday, August 27th. HSBC cut shares of iQIYI from a "hold" rating to a "reduce" rating and reduced their target price for the stock from $4.70 to $3.00 in a research report on Tuesday, July 23rd. Nomura Securities raised shares of iQIYI to a "hold" rating in a report on Monday, August 26th. Benchmark downgraded shares of iQIYI from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of iQIYI from $5.00 to $3.00 and set a "neutral" rating for the company in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat, iQIYI currently has an average rating of "Hold" and an average price target of $3.45.

iQIYI Stock Up 7.1 %

IQ traded up $0.17 during trading on Tuesday, hitting $2.58. The company had a trading volume of 26,575,754 shares, compared to its average volume of 11,486,274. iQIYI, Inc. has a 1-year low of $1.92 and a 1-year high of $5.80. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $2.48 billion, a PE ratio of 9.29, a P/E/G ratio of 0.70 and a beta of 0.07. The business has a 50-day moving average of $2.49 and a 200-day moving average of $3.58.

iQIYI (NASDAQ:IQ - Get Free Report) last issued 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 company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a net margin of 5.37% and a return on equity of 14.57%. During the same quarter last year, the company posted $0.05 EPS. As a group, analysts forecast that iQIYI, Inc. will post 0.16 earnings per share for the current year.

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.