Lighthouse Investment Partners LLC bought a new position in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 701,522 shares of the company's stock, valued at approximately $1,410,000. Lighthouse Investment Partners LLC owned 0.07% of iQIYI at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in IQ. Robeco Institutional Asset Management B.V. boosted its stake in iQIYI by 4.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company's stock worth $48,959,000 after purchasing an additional 1,114,390 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of iQIYI in the fourth quarter valued at approximately $468,000. Harvest Fund Management Co. Ltd grew its stake in iQIYI by 13.9% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,228,223 shares of the company's stock valued at $6,489,000 after acquiring an additional 393,834 shares in the last quarter. E Fund Management Co. Ltd. grew its stake 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 valued at $5,362,000 after acquiring an additional 756,552 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in iQIYI by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 18,293,085 shares of the company's stock worth $36,769,000 after acquiring an additional 502,154 shares during the period. 52.69% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Citigroup reduced their price target on shares of iQIYI from $3.00 to $2.80 and set a "buy" rating for the company in a research report on Thursday, January 16th. Hsbc Global Res upgraded iQIYI from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 16th. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a report on Wednesday, February 19th. Finally, HSBC upgraded iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price objective for the company in a report on Thursday, January 16th. One research 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's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $2.91.
Get Our Latest Report on IQ
iQIYI Trading Up 0.5%
Shares of iQIYI stock traded up $0.01 on Friday, hitting $1.93. The stock had a trading volume of 15,357,926 shares, compared to its average volume of 21,951,432. The company has a quick ratio of 0.45, a current ratio of 0.44 and a debt-to-equity ratio of 0.70. iQIYI, Inc. has a one year low of $1.50 and a one year high of $5.64. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 4.13 and a beta of -0.14. The stock's 50-day simple moving average is $1.97 and its two-hundred day simple moving average is $2.11.
iQIYI (NASDAQ:IQ - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. The business had revenue of $919.56 million for the quarter, compared to analyst estimates of $6.62 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. As a group, sell-side analysts predict that iQIYI, Inc. will post 0.04 EPS for the current year.
iQIYI Company Profile
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Free Report)
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.
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