Geode Capital Management LLC Cuts Stock Position in iQIYI, Inc. (NASDAQ:IQ)

Geode Capital Management LLC lessened its holdings in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) by 73.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 867,283 shares of the company's stock after selling 2,392,390 shares during the period. Geode Capital Management LLC owned approximately 0.09% of iQIYI worth $1,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its holdings in shares of iQIYI by 4.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company's stock valued at $48,959,000 after purchasing an additional 1,114,390 shares in the last quarter. Vanguard Group Inc. grew its position 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 buying an additional 502,154 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in iQIYI by 13.9% in 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 buying an additional 393,834 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of iQIYI in the fourth quarter worth about $6,297,000. Finally, E Fund Management Co. Ltd. boosted its stake in shares of iQIYI by 39.6% during the 4th quarter. E Fund Management Co. Ltd. now owns 2,667,758 shares of the company's stock worth $5,362,000 after acquiring an additional 756,552 shares in the last quarter. 52.69% of the stock is currently owned by institutional investors and hedge funds.

iQIYI Price Performance

NASDAQ IQ traded up $0.01 during mid-day trading on Monday, hitting $1.96. The stock had a trading volume of 2,014,907 shares, compared to its average volume of 21,829,578. The firm's 50 day moving average is $2.03 and its 200 day moving average is $2.15. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 19.55, 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 $5.80.

iQIYI (NASDAQ:IQ - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $919.56 million for the quarter, compared to the consensus estimate of $6.62 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. Equities research analysts forecast that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on IQ. Citigroup cut their price target on iQIYI from $3.00 to $2.80 and set a "buy" rating for the company in a research note on Thursday, January 16th. Benchmark restated a "hold" rating on shares of iQIYI in a research report on Wednesday, February 19th. OTR Global reiterated a "negative" rating on shares of iQIYI in a research report on Wednesday, January 8th. Hsbc Global Res raised shares of iQIYI from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 16th. Finally, HSBC raised shares of iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price objective on the stock in a report on Thursday, January 16th. One analyst has 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, the company has an average rating of "Hold" and an average target price of $2.91.

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.