Virtu Financial LLC Buys 255,538 Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)

Key Points

• Virtu Financial LLC increased its stake in iQIYI, Inc. by 132.7%, owning 448,126 shares valued at $1,013,000, following an additional purchase of 255,538 shares in the 1st quarter.
• Multiple institutional investors, including Invesco Ltd. and Charles Schwab Investment Management Inc., have also significantly increased their holdings in iQIYI, contributing to over 52.69% of the stock being owned by hedge funds and institutional investors.
• iQIYI reported earnings of $0.03 per share, missing analysts' estimates, while analysts have downgraded the stock from a "hold" rating to a "sell" rating with a consensus price target of $2.39.

Virtu Financial LLC grew its holdings in shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 132.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 448,126 shares of the company's stock after acquiring an additional 255,538 shares during the quarter. Virtu Financial LLC's holdings in iQIYI were worth $1,013,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Private Advisor Group LLC bought a new position in shares of iQIYI in the first quarter worth approximately $30,000. Vident Advisory LLC bought a new position in shares of iQIYI in the fourth quarter worth approximately $33,000. BTG Pactual Asset Management US LLC bought a new position in shares of iQIYI in the fourth quarter worth approximately $37,000. Franklin Resources Inc. grew its holdings in shares of iQIYI by 12.0% in the fourth quarter. Franklin Resources Inc. now owns 194,274 shares of the company's stock worth $390,000 after purchasing an additional 20,888 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in shares of iQIYI in the fourth quarter worth approximately $70,000. 52.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of iQIYI from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Two 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 stock. According to data from MarketBeat, iQIYI presently has an average rating of "Hold" and an average target price of $2.39.

iQIYI Stock Up 4.2%

Shares of IQ stock traded up $0.08 during mid-day trading on Friday, reaching $1.99. 32,412,843 shares of the company's stock traded hands, compared to its average volume of 17,961,514. iQIYI, Inc. Sponsored ADR has a 12 month low of $1.50 and a 12 month high of $3.37. The company has a market cap of $1.92 billion, a P/E ratio of 49.76 and a beta of -0.14. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.61. The company's 50-day moving average price is $1.83 and its 200-day moving average price is $1.96.

iQIYI (NASDAQ:IQ - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $0.03 EPS 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 business had revenue of $988.19 million for the quarter, compared to the consensus estimate of $7.10 billion. On average, equities analysts expect that iQIYI, Inc. Sponsored ADR will post 0.04 earnings per share for the current fiscal year.

About iQIYI

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.