iQIYI, Inc. (NASDAQ:IQ) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its position in iQIYI, Inc. (NASDAQ:IQ - Free Report) by 89.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 827,212 shares of the company's stock after selling 7,336,478 shares during the period. Bank of America Corp DE owned about 0.09% of iQIYI worth $1,663,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in iQIYI in the fourth quarter valued at $32,000. PDS Planning Inc purchased a new position in shares of iQIYI in the 4th quarter valued at about $35,000. BTG Pactual Asset Management US LLC purchased a new position in shares of iQIYI in the 4th quarter valued at about $37,000. Corient Private Wealth LLC lifted 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. Finally, ExodusPoint Capital Management LP purchased a new stake in iQIYI during the fourth quarter worth about $70,000. Institutional investors and hedge funds own 52.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of iQIYI from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Benchmark restated a "hold" rating on shares of iQIYI in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $2.91.

iQIYI Price Performance

IQ traded up $0.02 during midday trading on Friday, reaching $1.69. 8,624,949 shares of the company's stock were exchanged, compared to its average volume of 22,574,760. iQIYI, Inc. has a 1-year low of $1.50 and a 1-year high of $4.34. The stock has a market capitalization of $1.63 billion, a PE ratio of 16.90, a P/E/G ratio of 4.13 and a beta of -0.14. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45. The business's 50-day moving average price is $1.80 and its 200 day moving average price is $2.05.

iQIYI (NASDAQ:IQ - Get Free Report) last issued its quarterly earnings data 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 7.62% and a net margin of 2.62%. The company had revenue of $988.19 million for the quarter, compared to analyst estimates of $7.10 billion. As a group, equities analysts anticipate that iQIYI, Inc. will post 0.04 EPS for the current fiscal year.

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.