iQIYI (NASDAQ:IQ) Shares Gap Up - What's Next?

Key Points

• iQIYI shares witnessed a significant jump, with the stock opening at $2.32 after closing at $1.99, and last trading at $2.40 with a volume of over 30 million shares.
• Wall Street Zen downgraded iQIYI's rating from "hold" to "sell," and analysts have given it a consensus rating of "Hold" with an average target price of $2.39.
• Several institutional investors have increased their holdings in iQIYI, with hedge funds now owning 52.69% of the company's stock.

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $1.99, but opened at $2.32. iQIYI shares last traded at $2.40, with a volume of 30,458,852 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen cut iQIYI from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. 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 company. According to MarketBeat.com, iQIYI presently has a consensus rating of "Hold" and an average target price of $2.39.

iQIYI Stock Up 18.3%

The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 58.89 and a beta of -0.14. The business has a fifty day moving average of $1.83 and a 200 day moving average of $1.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.46 and a quick ratio of 0.46.

iQIYI (NASDAQ:IQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). iQIYI had a return on equity of 3.62% and a net margin of 1.02%. The firm had revenue of $988.19 million for the quarter, compared to analyst estimates of $7.10 billion. As a group, equities analysts predict that iQIYI, Inc. Sponsored ADR will post 0.04 earnings per share for the current year.

Institutional Trading of iQIYI

A number of large investors have recently modified their holdings of the stock. Barclays PLC increased its holdings in iQIYI by 78.2% in the fourth quarter. Barclays PLC now owns 3,745,666 shares of the company's stock valued at $7,529,000 after buying an additional 1,643,387 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in iQIYI by 41.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company's stock valued at $22,135,000 after buying an additional 3,235,223 shares during the last quarter. SIH Partners LLLP increased its holdings in iQIYI by 191.6% in the fourth quarter. SIH Partners LLLP now owns 221,900 shares of the company's stock valued at $446,000 after buying an additional 145,800 shares during the last quarter. Two Sigma Securities LLC increased its holdings in iQIYI by 141.3% in the fourth quarter. Two Sigma Securities LLC now owns 155,717 shares of the company's stock valued at $313,000 after buying an additional 91,179 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in iQIYI by 94.5% in the fourth quarter. Northern Trust Corp now owns 1,230,272 shares of the company's stock valued at $2,473,000 after buying an additional 597,819 shares during the last quarter. Hedge funds and other institutional investors own 52.69% of the company's stock.

iQIYI Company 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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