Wellington Management Group LLP Acquires New Position in iQIYI, Inc. (NASDAQ:IQ)

Wellington Management Group LLP bought a new position in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 994,172 shares of the company's stock, valued at approximately $1,998,000. Wellington Management Group LLP owned about 0.10% of iQIYI as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IQ. SBI Securities Co. Ltd. bought a new stake in shares of iQIYI during the fourth quarter worth $32,000. Vident Advisory LLC bought a new stake in shares of iQIYI during the fourth quarter worth $33,000. PDS Planning Inc bought a new stake in shares of iQIYI during the fourth quarter worth $35,000. BTG Pactual Asset Management US LLC bought a new stake in shares of iQIYI during the fourth quarter worth $37,000. Finally, Corient Private Wealth LLC grew its stake in shares of iQIYI by 37.3% during the fourth quarter. Corient Private Wealth LLC now owns 28,138 shares of the company's stock worth $57,000 after buying an additional 7,645 shares during the last quarter. Institutional investors own 52.69% of the company's stock.

iQIYI Stock Performance

IQ stock opened at $1.67 on Friday. The firm has a market cap of $1.61 billion, a PE ratio of 16.70, 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. The stock has a 50-day moving average price of $1.80 and a 200-day moving average price of $2.05. iQIYI, Inc. has a 1-year low of $1.50 and a 1-year high of $4.34.

iQIYI (NASDAQ:IQ - Get Free Report) last issued its 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). The business had revenue of $988.19 million during the quarter, compared to the consensus estimate of $7.10 billion. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. As a group, equities research analysts expect that iQIYI, Inc. will post 0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IQ shares. Wall Street Zen cut shares of iQIYI from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Benchmark reiterated a "hold" rating on shares of iQIYI in a research report on Wednesday, February 19th. Two 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.

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