Wellington Management Group LLP Makes New $2 Million Investment in iQIYI, Inc. (NASDAQ:IQ)

Wellington Management Group LLP purchased a new position in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 994,172 shares of the company's stock, valued at approximately $1,998,000. Wellington Management Group LLP owned approximately 0.10% of iQIYI at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IQ. Krane Funds Advisors LLC boosted its stake in shares of iQIYI by 82.1% during the 4th 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 acquired a new stake in iQIYI during the 4th quarter valued at $6,818,000. Dimensional Fund Advisors LP boosted its position in 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 purchasing an additional 3,235,223 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in iQIYI during the fourth quarter worth $6,297,000. Finally, Norges Bank acquired a new position in shares of iQIYI in the fourth quarter valued at $3,914,000. Institutional investors and hedge funds own 52.69% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on IQ. Wall Street Zen cut shares of iQIYI from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Benchmark restated 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 issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $2.91.

iQIYI Stock Performance

Shares of IQ stock traded up $0.08 on Monday, hitting $1.77. The company's stock had a trading volume of 33,809,479 shares, compared to its average volume of 22,743,827. iQIYI, Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $4.32. The company has a market capitalization of $1.70 billion, a PE ratio of 17.70, a PEG ratio of 4.13 and a beta of -0.18. The stock's 50 day moving average is $1.78 and its 200-day moving average is $2.04. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44.

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

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.