iQIYI, Inc. (NASDAQ:IQ) Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its position in iQIYI, Inc. (NASDAQ:IQ - Free Report) by 924.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 314,600 shares of the company's stock after purchasing an additional 283,900 shares during the quarter. Public Employees Retirement System of Ohio's holdings in iQIYI were worth $632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC increased its position in shares of iQIYI by 82.1% during the fourth quarter. Krane Funds Advisors LLC now owns 21,763,769 shares of the company's stock worth $43,745,000 after acquiring an additional 9,809,187 shares during the period. Woodline Partners LP purchased a new position in shares of iQIYI during the fourth quarter worth approximately $6,818,000. Dimensional Fund Advisors LP increased its position in shares of iQIYI by 41.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company's stock worth $22,135,000 after acquiring an additional 3,235,223 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of iQIYI during the fourth quarter worth approximately $6,297,000. Finally, Norges Bank purchased a new position in shares of iQIYI during the fourth quarter worth approximately $3,914,000. 52.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of 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 research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company's 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 Stock Up 1.2%

Shares of NASDAQ IQ traded up $0.02 during midday trading on Friday, reaching $1.69. 8,625,505 shares of the company's stock traded hands, compared to its average volume of 22,699,319. The company has a quick ratio of 0.45, a current ratio of 0.44 and a debt-to-equity ratio of 0.70. The stock's 50 day simple moving average is $1.79 and its 200-day simple moving average is $2.04. iQIYI, Inc. has a one year low of $1.50 and a one year high of $4.32. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 4.13 and a beta of -0.18.

iQIYI (NASDAQ:IQ - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $988.19 million for the quarter, compared to the consensus estimate of $7.10 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. On average, analysts predict that iQIYI, Inc. 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.