Woodline Partners LP Invests $6.82 Million in iQIYI, Inc. (NASDAQ:IQ)

Woodline Partners LP acquired a new stake 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 firm acquired 3,392,222 shares of the company's stock, valued at approximately $6,818,000. Woodline Partners LP owned about 0.35% of iQIYI at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in shares of iQIYI by 4.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company's stock worth $48,959,000 after buying an additional 1,114,390 shares during the period. Lighthouse Investment Partners LLC bought a new position in shares of iQIYI in the 4th quarter worth $1,410,000. Y Intercept Hong Kong Ltd purchased a new position in iQIYI during the 4th quarter worth $468,000. Harvest Fund Management Co. Ltd grew its stake in iQIYI by 13.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,228,223 shares of the company's stock worth $6,489,000 after buying an additional 393,834 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its stake in iQIYI by 39.6% during the 4th quarter. E Fund Management Co. Ltd. now owns 2,667,758 shares of the company's stock valued at $5,362,000 after purchasing an additional 756,552 shares during the last quarter. 52.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Benchmark reissued a "hold" rating on shares of iQIYI in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $2.91.

iQIYI Stock Performance

Shares of IQ traded up $0.02 during midday trading on Thursday, reaching $1.64. 11,541,042 shares of the stock were exchanged, compared to its average volume of 22,379,371. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 4.13 and a beta of -0.14. iQIYI, Inc. has a twelve month low of $1.50 and a twelve month high of $4.79. The business's 50-day moving average price is $1.87 and its 200 day moving average price is $2.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45.

iQIYI (NASDAQ:IQ - Get Free Report) last announced its quarterly earnings data 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). 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 analysts' expectations of $7.10 billion. On average, sell-side analysts expect that iQIYI, Inc. will post 0.04 EPS 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.