The Manufacturers Life Insurance Company Has $181,000 Stock Holdings in iQIYI, Inc. (NASDAQ:IQ)

The Manufacturers Life Insurance Company cut its holdings in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) by 97.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,387 shares of the company's stock after selling 2,062,712 shares during the quarter. The Manufacturers Life Insurance Company's holdings in iQIYI were worth $181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Genesis Investment Management LLP raised its holdings in iQIYI by 112.1% in the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company's stock valued at $47,425,000 after acquiring an additional 8,765,711 shares in the last quarter. Federated Hermes Inc. grew its position in shares of iQIYI by 18.9% during the second quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company's stock worth $58,929,000 after acquiring an additional 2,549,287 shares during the last quarter. Dimensional Fund Advisors LP grew its position in iQIYI by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company's stock worth $21,443,000 after purchasing an additional 694,349 shares during the last quarter. Quarry LP acquired a new stake in shares of iQIYI in the second quarter valued at approximately $18,075,000. Finally, Monolith Management Ltd acquired a new stake in shares of iQIYI in the third quarter valued at approximately $4,576,000. 52.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IQ has been the topic of a number of research reports. 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 research note on Friday, November 22nd. Nomura Securities upgraded shares of iQIYI to a "hold" rating in a research report on Monday, August 26th. Benchmark reissued a "hold" rating on shares of iQIYI in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group lowered shares of iQIYI from a "buy" rating to a "neutral" rating and set a $2.80 price target on the stock. in a research report on Tuesday, August 27th. One equities research 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, iQIYI currently has an average rating of "Hold" and an average price target of $3.15.

iQIYI Price Performance

NASDAQ IQ traded up $0.05 during trading hours on Tuesday, reaching $2.14. 15,891,515 shares of the company's stock were exchanged, compared to its average volume of 12,839,134. The firm has a fifty day moving average of $2.36 and a 200-day moving average of $2.89. iQIYI, Inc. has a one year low of $1.89 and a one year high of $5.80. The stock has a market cap of $2.05 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.60 and a beta of 0.02. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65.

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.