UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,919,493 Shares of iQIYI, Inc. (NASDAQ:IQ)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) by 81.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 436,252 shares of the company's stock after selling 1,919,493 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in iQIYI were worth $877,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Woodline Partners LP purchased a new position in shares of iQIYI in the fourth quarter worth approximately $6,818,000. Vident Advisory LLC purchased a new position in iQIYI during the 4th quarter worth approximately $33,000. LMR Partners LLP acquired a new stake in iQIYI during the 4th quarter valued at $237,000. Lighthouse Investment Partners LLC purchased a new stake in shares of iQIYI in the fourth quarter valued at $1,410,000. Finally, Brevan Howard Capital Management LP lifted its holdings in shares of iQIYI by 272.1% in the fourth quarter. Brevan Howard Capital Management LP now owns 670,146 shares of the company's stock valued at $1,347,000 after purchasing an additional 490,046 shares in the last quarter. 52.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

iQIYI Stock Up 1.1%

NASDAQ:IQ traded up $0.02 during mid-day trading on Thursday, reaching $1.83. The stock had a trading volume of 5,538,227 shares, compared to its average volume of 22,835,733. The stock has a market cap of $1.76 billion, a P/E ratio of 18.30, a PEG ratio of 4.13 and a beta of -0.18. The business's 50 day moving average is $1.77 and its 200 day moving average is $2.04. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45. iQIYI, Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $4.32.

iQIYI (NASDAQ:IQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.03 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 business had revenue of $988.19 million for the quarter, compared to analyst estimates of $7.10 billion. As a group, sell-side analysts predict that iQIYI, Inc. will post 0.04 earnings per share for the current year.

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.