FIL Ltd trimmed its stake in iQIYI, Inc. (NASDAQ:IQ - Free Report) by 79.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,540,106 shares of the company's stock after selling 13,630,466 shares during the period. FIL Ltd owned about 0.37% of iQIYI worth $7,116,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in IQ. Corient Private Wealth LLC boosted its stake in shares of iQIYI by 37.3% in the fourth quarter. Corient Private Wealth LLC now owns 28,138 shares of the company's stock valued at $57,000 after purchasing an additional 7,645 shares during the period. IvyRock Asset Management HK Ltd raised its stake in shares of iQIYI by 20.0% in the fourth quarter. IvyRock Asset Management HK Ltd now owns 60,000 shares of the company's stock valued at $121,000 after acquiring an additional 10,000 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in iQIYI in the fourth quarter valued at $32,000. PDS Planning Inc acquired a new position in iQIYI during the 4th quarter worth $35,000. Finally, Franklin Resources Inc. raised its position in iQIYI by 12.0% in the 4th 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 currently owned by institutional investors and hedge funds.
iQIYI Stock Performance
Shares of NASDAQ IQ traded down $0.04 during trading hours on Friday, reaching $1.65. The stock had a trading volume of 50,535,373 shares, compared to its average volume of 20,881,144. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 4.13 and a beta of -0.18. iQIYI, Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $5.80. The firm has a 50-day moving average of $2.14 and a 200-day moving average of $2.23. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70.
iQIYI (NASDAQ:IQ - Get Free Report) last announced its 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. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. The business had revenue of $919.56 million for the quarter, compared to analyst estimates of $6.62 billion. Equities research analysts predict that iQIYI, Inc. will post 0.04 earnings per share for the current year.
Analyst Ratings Changes
IQ has been the subject of a number of recent research reports. Hsbc Global Res upgraded shares of iQIYI from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 16th. HSBC upgraded iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price target on the stock in a research note on Thursday, January 16th. OTR Global reaffirmed a "negative" rating on shares of iQIYI in a research report on Wednesday, January 8th. Citigroup cut their target price on iQIYI from $3.00 to $2.80 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Finally, Benchmark reaffirmed a "hold" rating on shares of iQIYI in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $2.91.
Read Our Latest Analysis on IQ
About iQIYI
(
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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