Pictet Asset Management Holding SA Decreases Holdings in iQIYI, Inc. (NASDAQ:IQ)

Pictet Asset Management Holding SA lessened its holdings in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) by 48.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,600 shares of the company's stock after selling 262,800 shares during the quarter. Pictet Asset Management Holding SA's holdings in iQIYI were worth $562,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IQ. SBI Securities Co. Ltd. purchased a new position in iQIYI in the fourth quarter valued at approximately $32,000. PDS Planning Inc purchased a new stake in iQIYI during the fourth quarter valued at about $35,000. Ballentine Partners LLC bought a new stake in iQIYI in the 4th quarter worth approximately $47,000. HighTower Advisors LLC boosted its stake in shares of iQIYI by 102.9% in the 3rd quarter. HighTower Advisors LLC now owns 19,840 shares of the company's stock valued at $56,000 after purchasing an additional 701,901 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of iQIYI by 37.3% in the fourth quarter. Corient Private Wealth LLC now owns 28,138 shares of the company's stock worth $57,000 after buying an additional 7,645 shares during the period. Hedge funds and other institutional investors own 52.69% of the company's stock.

iQIYI Stock Performance

Shares of IQ stock traded up $0.07 during trading hours on Monday, reaching $1.71. The company had a trading volume of 8,279,721 shares, compared to its average volume of 20,115,793. The firm has a market cap of $1.64 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 4.13 and a beta of -0.18. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44. The business has a fifty day moving average price of $2.19 and a 200-day moving average price of $2.25. iQIYI, Inc. has a one year low of $1.50 and a one year high of $5.80.

iQIYI (NASDAQ:IQ - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. The firm had revenue of $919.56 million during the quarter, compared to the consensus estimate of $6.62 billion. Sell-side analysts predict that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IQ shares. HSBC upgraded shares of iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price target for the company in a report on Thursday, January 16th. Hsbc Global Res upgraded shares of iQIYI from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 16th. Citigroup cut their price objective on iQIYI from $3.00 to $2.80 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a research report on Wednesday, February 19th. Finally, OTR Global reiterated a "negative" rating on shares of iQIYI in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $2.91.

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.