Hsbc Holdings PLC Cuts Stake in iQIYI, Inc. Sponsored ADR $IQ

Key Points

• HSBC Holdings PLC reduced its stake in iQIYI, Inc. by 94%, now holding approximately 0.07% of the company, valued at $1.6 million.
• Multiple hedge funds adjusted their positions in iQIYI during the fourth quarter, with Northern Trust Corp increasing its stake by 94.5%.
• Research analysts have given mixed ratings on iQIYI, with three rating it as a "Buy," while three have a "Hold" rating and one a "Sell" rating.

Hsbc Holdings PLC lowered its position in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 94.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 711,194 shares of the company's stock after selling 11,047,714 shares during the quarter. Hsbc Holdings PLC owned about 0.07% of iQIYI worth $1,607,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in iQIYI by 41.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company's stock worth $22,135,000 after buying an additional 3,235,223 shares during the period. Northern Trust Corp increased its position in shares of iQIYI by 94.5% during the fourth quarter. Northern Trust Corp now owns 1,230,272 shares of the company's stock valued at $2,473,000 after acquiring an additional 597,819 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of iQIYI during the fourth quarter valued at approximately $721,000. Brevan Howard Capital Management LP increased its position in shares of iQIYI by 272.1% during the fourth quarter. Brevan Howard Capital Management LP now owns 670,146 shares of the company's stock valued at $1,347,000 after acquiring an additional 490,046 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of iQIYI during the fourth quarter valued at approximately $1,410,000. Institutional investors own 52.69% of the company's stock.

iQIYI Stock Performance

Shares of NASDAQ:IQ traded up $0.14 during midday trading on Friday, hitting $2.65. The company had a trading volume of 39,732,108 shares, compared to its average volume of 27,019,302. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 53.00 and a beta of -0.14. iQIYI, Inc. Sponsored ADR has a 12-month low of $1.50 and a 12-month high of $3.35. The company has a fifty day moving average of $1.96 and a two-hundred day moving average of $1.96.

Wall Street Analyst Weigh In

A number of research firms have commented on IQ. UBS Group raised shares of iQIYI from a "neutral" rating to a "buy" rating and set a $3.32 target price for the company in a research report on Thursday, August 21st. Jefferies Financial Group lifted their price objective on iQIYI from $2.10 to $2.50 and gave the stock a "buy" rating in a report on Wednesday, August 20th. CLSA raised iQIYI from a "hold" rating to a "moderate buy" rating in a report on Tuesday, August 19th. Finally, Wall Street Zen downgraded iQIYI from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $2.51.

iQIYI 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.