iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Position Cut by Nan Fung Trinity HK Ltd.

Key Points

• Nan Fung Trinity HK Ltd. decreased its holdings in iQIYI, Inc. by 29.3%, holding approximately 3.68 million shares after selling 1.53 million shares in the 1st quarter.
• Several institutional investors, including Krane Funds Advisors and Vanguard Group, have increased their stakes in iQIYI, with Krane Funds raising its position by 23.6% during the same period.
• iQIYI's stock currently holds a consensus rating of "Hold," with analysts recently downgrading it from a "Hold" to a "Sell" rating amid concerns over its financial performance.

Nan Fung Trinity HK Ltd. cut its holdings in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 29.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,676,950 shares of the company's stock after selling 1,525,000 shares during the period. iQIYI accounts for about 1.3% of Nan Fung Trinity HK Ltd.'s holdings, making the stock its 28th biggest position. Nan Fung Trinity HK Ltd. owned 0.38% of iQIYI worth $8,310,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Private Advisor Group LLC acquired a new stake in shares of iQIYI in the first quarter worth $30,000. Vident Advisory LLC acquired a new stake in shares of iQIYI in the fourth quarter valued at about $33,000. BTG Pactual Asset Management US LLC acquired a new position in iQIYI during the 4th quarter worth approximately $37,000. Corient Private Wealth LLC boosted its holdings in iQIYI by 37.3% in the 4th quarter. Corient Private Wealth LLC now owns 28,138 shares of the company's stock worth $57,000 after acquiring an additional 7,645 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of iQIYI during the fourth quarter valued at approximately $70,000. Hedge funds and other institutional investors own 52.69% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded iQIYI from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, iQIYI currently has a consensus rating of "Hold" and a consensus price target of $2.39.

iQIYI Stock Down 1.1%

Shares of IQ stock traded down $0.02 during trading hours on Friday, hitting $1.82. 17,672,673 shares of the company were exchanged, compared to its average volume of 20,471,410. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 45.51 and a beta of -0.14. iQIYI, Inc. Sponsored ADR has a one year low of $1.50 and a one year high of $3.37. The business's 50-day simple moving average is $1.79 and its two-hundred day simple moving average is $1.97.

iQIYI (NASDAQ:IQ - Get Free Report) last issued 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). iQIYI had a net margin of 1.02% and a return on equity of 3.62%. The firm had revenue of $988.19 million during the quarter, compared to the consensus estimate of $7.10 billion. Sell-side analysts predict that iQIYI, Inc. Sponsored ADR 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.