Krane Funds Advisors LLC Increases Stake in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)

Krane Funds Advisors LLC raised its position in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 23.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,905,091 shares of the company's stock after purchasing an additional 5,141,322 shares during the quarter. iQIYI accounts for approximately 1.7% of Krane Funds Advisors LLC's holdings, making the stock its 13th biggest holding. Krane Funds Advisors LLC owned approximately 2.79% of iQIYI worth $60,806,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Corient Private Wealth LLC lifted its holdings in iQIYI by 37.3% during the 4th quarter. Corient Private Wealth LLC now owns 28,138 shares of the company's stock valued at $57,000 after buying an additional 7,645 shares in the last quarter. IvyRock Asset Management HK Ltd boosted its holdings in shares of iQIYI by 20.0% in the fourth quarter. IvyRock Asset Management HK Ltd now owns 60,000 shares of the company's stock valued at $121,000 after purchasing an additional 10,000 shares during the period. SBI Securities Co. Ltd. bought a new position in iQIYI in the fourth quarter worth approximately $32,000. Vident Advisory LLC bought a new position in iQIYI in the fourth quarter worth approximately $33,000. Finally, PDS Planning Inc purchased a new position in iQIYI during the 4th quarter worth $35,000. Institutional investors own 52.69% of the company's stock.

iQIYI Stock Up 0.3%

NASDAQ IQ traded up $0.01 during midday trading on Thursday, hitting $1.76. 14,802,063 shares of the company traded hands, compared to its average volume of 30,121,404. iQIYI, Inc. Sponsored ADR has a 52 week low of $1.50 and a 52 week high of $4.24. The company's 50-day simple moving average is $1.79 and its 200-day simple moving average is $1.99. The company has a market cap of $1.69 billion, a PE ratio of 43.89 and a beta of -0.17. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.46 and a quick ratio of 0.46.

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

Analysts Set New Price Targets

Separately, Wall Street Zen cut iQIYI from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $2.91.

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.