Vontobel Holding Ltd. Trims Stake in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)

Vontobel Holding Ltd. trimmed its holdings in shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 87.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,513 shares of the company's stock after selling 216,394 shares during the quarter. Vontobel Holding Ltd.'s holdings in iQIYI were worth $69,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lighthouse Investment Partners LLC bought a new position in iQIYI during the fourth quarter valued at $1,410,000. Harvest Fund Management Co. Ltd grew its holdings in iQIYI by 13.9% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,228,223 shares of the company's stock valued at $6,489,000 after purchasing an additional 393,834 shares during the period. Northern Trust Corp grew its holdings in iQIYI by 94.5% during the fourth quarter. Northern Trust Corp now owns 1,230,272 shares of the company's stock valued at $2,473,000 after purchasing an additional 597,819 shares during the period. Vanguard Group Inc. grew its holdings in iQIYI by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 18,293,085 shares of the company's stock valued at $36,769,000 after purchasing an additional 502,154 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in iQIYI during the fourth quarter valued at $32,000. 52.69% of the stock is owned by hedge funds and other institutional investors.

iQIYI Price Performance

NASDAQ:IQ traded down $0.01 during trading hours on Friday, hitting $1.83. 5,167,549 shares of the company's stock traded hands, compared to its average volume of 29,605,787. 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 business's fifty day simple moving average is $1.78 and its two-hundred day simple moving average is $1.98. iQIYI, Inc. Sponsored ADR has a 52 week low of $1.50 and a 52 week high of $4.22. The firm has a market cap of $1.76 billion, a P/E ratio of 45.64 and a beta of -0.17.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered iQIYI from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Two 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 MarketBeat, iQIYI currently 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.