Krane Funds Advisors LLC Has $60.81 Million Position in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)

Krane Funds Advisors LLC increased its stake in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 23.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,905,091 shares of the company's stock after acquiring an additional 5,141,322 shares during the period. iQIYI makes up approximately 1.7% of Krane Funds Advisors LLC's investment portfolio, making the stock its 13th biggest position. Krane Funds Advisors LLC owned approximately 2.79% of iQIYI worth $60,806,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IQ. Woodline Partners LP purchased a new position in shares of iQIYI during the 4th quarter valued at $6,818,000. Dimensional Fund Advisors LP grew its holdings in shares of iQIYI by 41.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company's stock valued at $22,135,000 after acquiring an additional 3,235,223 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of iQIYI during the 4th quarter valued at $6,297,000. Norges Bank purchased a new position in shares of iQIYI during the 4th quarter valued at $3,914,000. Finally, Barclays PLC grew its holdings in shares of iQIYI by 78.2% during the 4th quarter. Barclays PLC now owns 3,745,666 shares of the company's stock valued at $7,529,000 after acquiring an additional 1,643,387 shares in the last quarter. Institutional investors and hedge funds own 52.69% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of iQIYI from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $2.91.

iQIYI Price Performance

NASDAQ IQ traded up $0.01 on Friday, reaching $1.76. The company's stock had a trading volume of 18,023,438 shares, compared to its average volume of 23,421,206. 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 firm has a market cap of $1.69 billion, a PE ratio of 43.89 and a beta of -0.17. iQIYI, Inc. Sponsored ADR has a 52 week low of $1.50 and a 52 week high of $4.24. The business has a 50-day moving average price of $1.79 and a 200 day moving average price of $1.98.

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