Robeco Institutional Asset Management B.V. Reduces Stake in iQIYI, Inc. (NASDAQ:IQ)

Robeco Institutional Asset Management B.V. cut its stake in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) by 8.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,243,264 shares of the company's stock after selling 2,132,171 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 2.42% of iQIYI worth $66,476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IQ. Vontobel Holding Ltd. lifted its position in shares of iQIYI by 404.2% in the third quarter. Vontobel Holding Ltd. now owns 190,129 shares of the company's stock valued at $544,000 after acquiring an additional 152,418 shares in the last quarter. Creative Planning boosted its stake in iQIYI by 31.5% in the 3rd quarter. Creative Planning now owns 108,280 shares of the company's stock worth $310,000 after purchasing an additional 25,961 shares during the period. Genesis Investment Management LLP grew its holdings in 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 in the last quarter. SG Americas Securities LLC lifted its holdings in shares of iQIYI by 8,351.7% in the third quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company's stock worth $2,875,000 after buying an additional 993,355 shares in the last quarter. Finally, Quarry LP bought a new position in shares of iQIYI during the second quarter worth $18,075,000. 52.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

iQIYI Stock Up 4.9 %

Shares of NASDAQ:IQ traded up $0.12 during trading on Tuesday, reaching $2.58. The stock had a trading volume of 9,735,392 shares, compared to its average volume of 11,487,003. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $2.48 billion, a P/E ratio of 10.83, a PEG ratio of 0.66 and a beta of 0.08. The firm's 50-day simple moving average is $2.42 and its 200 day simple moving average is $3.46. iQIYI, Inc. has a one year low of $1.92 and a one year high of $5.80.

iQIYI (NASDAQ:IQ - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $1.02 billion. iQIYI had a return on equity of 14.57% and a net margin of 5.37%. During the same period in the prior year, the firm posted $0.05 earnings per share. As a group, research analysts expect that iQIYI, Inc. will post 0.16 EPS for the current fiscal year.

iQIYI Company 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.