Northern Trust Corp Boosts Holdings in iQIYI, Inc. (NASDAQ:IQ)

Northern Trust Corp raised its position in iQIYI, Inc. (NASDAQ:IQ - Free Report) by 94.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,230,272 shares of the company's stock after purchasing an additional 597,819 shares during the quarter. Northern Trust Corp owned about 0.13% of iQIYI worth $2,473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of iQIYI in the 4th quarter worth approximately $32,000. PDS Planning Inc acquired a new position in shares of iQIYI in the 4th quarter worth approximately $35,000. BTG Pactual Asset Management US LLC acquired a new position in shares of iQIYI in the 4th quarter worth approximately $37,000. Ballentine Partners LLC acquired a new position in shares of iQIYI in the 4th quarter worth approximately $47,000. Finally, Corient Private Wealth LLC lifted its holdings in shares of 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 last quarter. 52.69% of the stock is currently owned by institutional investors and hedge funds.

iQIYI Stock Up 1.9%

IQ traded up $0.03 during trading hours on Thursday, hitting $1.65. 19,413,386 shares of the company's stock were exchanged, compared to its average volume of 22,425,120. iQIYI, Inc. has a 12-month low of $1.50 and a 12-month high of $4.79. The firm has a 50 day moving average of $1.86 and a 200 day moving average of $2.06. The firm has a market cap of $1.59 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 4.13 and a beta of -0.14. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70.

iQIYI (NASDAQ:IQ - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $0.03 earnings per share 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 analysts' expectations of $7.10 billion. Analysts predict that iQIYI, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Benchmark restated a "hold" rating on shares of iQIYI in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, iQIYI presently has a consensus rating of "Hold" and a consensus 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.