Federated Hermes Inc. Sells 4,171,133 Shares of iQIYI, Inc. (NASDAQ:IQ)

Federated Hermes Inc. cut its position in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) by 39.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,484,221 shares of the company's stock after selling 4,171,133 shares during the quarter. Federated Hermes Inc. owned about 0.68% of iQIYI worth $13,033,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Corient Private Wealth LLC lifted its position in iQIYI by 37.3% in the 4th quarter. Corient Private Wealth LLC now owns 28,138 shares of the company's stock valued at $57,000 after acquiring an additional 7,645 shares in the last quarter. IvyRock Asset Management HK Ltd boosted its position in shares of iQIYI by 20.0% during the fourth quarter. IvyRock Asset Management HK Ltd now owns 60,000 shares of the company's stock valued at $121,000 after buying an additional 10,000 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in iQIYI during the fourth quarter worth $32,000. PDS Planning Inc purchased a new stake in iQIYI in the 4th quarter valued at $35,000. Finally, Franklin Resources Inc. lifted its position in shares of iQIYI by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 194,274 shares of the company's stock valued at $390,000 after purchasing an additional 20,888 shares in the last quarter. 52.69% of the stock is owned by institutional investors.

iQIYI Price Performance

NASDAQ IQ traded up $0.14 on Tuesday, hitting $1.78. The stock had a trading volume of 35,631,618 shares, compared to its average volume of 20,403,008. 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 52-week low of $1.50 and a 52-week high of $5.80. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 4.13 and a beta of -0.18. The firm has a 50-day moving average of $2.18 and a 200-day moving average of $2.24.

iQIYI (NASDAQ:IQ - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $6.62 billion. Equities analysts expect that iQIYI, Inc. will post 0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IQ shares. Benchmark reissued a "hold" rating on shares of iQIYI in a research report on Wednesday, February 19th. HSBC upgraded shares of iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 target price on the stock in a research note on Thursday, January 16th. OTR Global restated a "negative" rating on shares of iQIYI in a research note on Wednesday, January 8th. Citigroup lowered their price target on shares of iQIYI from $3.00 to $2.80 and set a "buy" rating on the stock in a report on Thursday, January 16th. Finally, Hsbc Global Res raised iQIYI from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, iQIYI presently has an average rating of "Hold" and an average target price of $2.91.

iQIYI Company 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.