State Street Corp Has $20.67 Million Position in iQIYI, Inc. (NASDAQ:IQ)

State Street Corp reduced its position in iQIYI, Inc. (NASDAQ:IQ - Free Report) by 52.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,227,103 shares of the company's stock after selling 7,932,856 shares during the period. State Street Corp owned about 0.75% of iQIYI worth $20,670,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in iQIYI by 77.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company's stock valued at $5,354,000 after acquiring an additional 815,226 shares in the last quarter. Dimensional Fund Advisors LP grew its position in iQIYI by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company's stock valued at $21,443,000 after purchasing an additional 694,349 shares in the last quarter. Genesis Investment Management LLP grew its position in iQIYI by 112.1% during the third 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. SG Americas Securities LLC increased its stake in iQIYI by 8,351.7% in the 3rd quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company's stock valued at $2,875,000 after buying an additional 993,355 shares during the period. Finally, American Century Companies Inc. lifted its position in iQIYI by 36.2% in the 2nd quarter. American Century Companies Inc. now owns 946,984 shares of the company's stock worth $3,475,000 after buying an additional 251,813 shares in the last quarter. Institutional investors and hedge funds own 52.69% of the company's stock.

iQIYI Stock Up 1.0 %

Shares of NASDAQ IQ traded up $0.02 during mid-day trading on Tuesday, reaching $2.11. 4,830,512 shares of the company traded hands, compared to its average volume of 12,813,374. The company's fifty day moving average is $2.30 and its two-hundred day moving average is $2.81. iQIYI, Inc. has a fifty-two week low of $1.89 and a fifty-two week high of $5.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a market cap of $2.02 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 0.60 and a beta of 0.02.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group downgraded shares of iQIYI from a "buy" rating to a "neutral" rating and set a $2.80 price target on the stock. in a research note on Tuesday, August 27th. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a research note on Friday, November 22nd. Nomura Securities upgraded iQIYI to a "hold" rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. dropped their price objective on iQIYI from $2.50 to $1.80 and set a "neutral" rating on the stock in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $3.15.

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.