iQIYI, Inc. (NASDAQ:IQ - Get Free Report) gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $1.86, but opened at $1.79. iQIYI shares last traded at $1.69, with a volume of 7,820,981 shares traded.
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 company had revenue of $988.19 million for the quarter, compared to analysts' expectations of $7.10 billion.
Analyst Ratings Changes
Separately, Benchmark reissued a "hold" rating on shares of iQIYI in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $2.91.
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Hedge Funds Weigh In On iQIYI
Institutional investors and hedge funds have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. raised its holdings in iQIYI by 4.8% in 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 buying an additional 1,114,390 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in shares of iQIYI in the 4th quarter valued at approximately $1,410,000. Y Intercept Hong Kong Ltd acquired a new position in shares of iQIYI in the 4th quarter worth approximately $468,000. Harvest Fund Management Co. Ltd boosted its position in shares of 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 purchasing an additional 393,834 shares during the period. Finally, E Fund Management Co. Ltd. increased its holdings in iQIYI by 39.6% in 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 currently owned by institutional investors and hedge funds.
iQIYI Stock Down 1.2%
The business has a 50 day simple moving average of $1.91 and a 200 day simple moving average of $2.08. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 4.13 and a beta of -0.14. 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 Company Profile
(
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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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