Wellington Management Group LLP Invests $2 Million in iQIYI, Inc. (NASDAQ:IQ)

Wellington Management Group LLP acquired a new stake in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 994,172 shares of the company's stock, valued at approximately $1,998,000. Wellington Management Group LLP owned approximately 0.10% of iQIYI as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of IQ. Arrowstreet Capital Limited Partnership bought a new position in iQIYI during the 4th quarter valued at $6,297,000. Norges Bank acquired a new stake in shares of iQIYI in the fourth quarter valued at $3,914,000. Robeco Institutional Asset Management B.V. boosted its stake in iQIYI by 4.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company's stock valued at $48,959,000 after buying an additional 1,114,390 shares in the last quarter. E Fund Management Co. Ltd. grew its holdings in iQIYI by 39.6% during the fourth quarter. E Fund Management Co. Ltd. now owns 2,667,758 shares of the company's stock worth $5,362,000 after acquiring an additional 756,552 shares during the period. Finally, HighTower Advisors LLC raised its position in iQIYI by 102.9% in the third quarter. HighTower Advisors LLC now owns 19,840 shares of the company's stock worth $56,000 after acquiring an additional 701,901 shares in the last quarter. Institutional investors and hedge funds own 52.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IQ shares. HSBC upgraded shares of iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price objective for the company in a research report on Thursday, January 16th. Benchmark restated a "hold" rating on shares of iQIYI in a report on Wednesday, February 19th. Citigroup dropped their price target on iQIYI from $3.00 to $2.80 and set a "buy" rating on the stock in a report on Thursday, January 16th. Hsbc Global Res raised iQIYI from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 16th. Finally, OTR Global restated 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 given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, iQIYI presently has a consensus rating of "Hold" and a consensus price target of $2.91.

Remove Ads

iQIYI Trading Down 1.8 %

NASDAQ IQ opened at $1.64 on Friday. The firm's 50 day moving average price is $2.19 and its two-hundred day moving average price is $2.25. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44. iQIYI, Inc. has a twelve month low of $1.50 and a twelve month high of $5.80. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 4.13 and a beta of -0.18.

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

Want to see what other hedge funds are holding IQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iQIYI, Inc. (NASDAQ:IQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.