Federated Hermes Inc. Boosts Stake in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)

Key Points

• Federated Hermes Inc. increased its stake in iQIYI, Inc. by 44.5% in the first quarter, holding approximately 9.37 million shares valued at $21.18 million.
• Krane Funds Advisors LLC boosted its investment in iQIYI by 82.1% during the 4th quarter, owning about 21.76 million shares and highlighting strong institutional interest in the company.
• iQIYI reported a net loss of $0.03 EPS for the last quarter, missing the estimated $0.05, with revenue significantly below expectations at $988.19 million.

Federated Hermes Inc. lifted its stake in shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 44.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,370,852 shares of the company's stock after acquiring an additional 2,886,631 shares during the quarter. Federated Hermes Inc. owned approximately 0.97% of iQIYI worth $21,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the company. Corient Private Wealth LLC lifted its stake in iQIYI by 37.3% in the 4th quarter. Corient Private Wealth LLC now owns 28,138 shares of the company's stock worth $57,000 after purchasing an additional 7,645 shares in the last quarter. American Century Companies Inc. raised its position in shares of iQIYI by 5.6% in the 4th quarter. American Century Companies Inc. now owns 1,904,565 shares of the company's stock worth $3,828,000 after purchasing an additional 101,241 shares during the last quarter. Vanguard Group Inc. grew its position in iQIYI by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 18,293,085 shares of the company's stock worth $36,769,000 after purchasing an additional 502,154 shares during the period. Norges Bank purchased a new stake in iQIYI during the fourth quarter valued at approximately $3,914,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of iQIYI in the fourth quarter valued at about $6,297,000. 52.69% of the stock is owned by institutional investors.

iQIYI Trading Up 1.4%

NASDAQ IQ traded up $0.03 during trading on Tuesday, hitting $1.87. The company had a trading volume of 6,033,530 shares, compared to its average volume of 28,654,643. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 46.64 and a beta of -0.14. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.61. The company's fifty day moving average is $1.79 and its 200-day moving average is $1.97. iQIYI, Inc. Sponsored ADR has a one year low of $1.50 and a one year high of $3.37.

iQIYI (NASDAQ:IQ - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). iQIYI had a return on equity of 3.62% and a net margin of 1.02%. The firm had revenue of $988.19 million during the quarter, compared to the consensus estimate of $7.10 billion. On average, sell-side analysts predict that iQIYI, Inc. Sponsored ADR will post 0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of iQIYI from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, iQIYI currently has a consensus rating of "Hold" and a consensus price target of $2.39.

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.