Legal & General Group Plc Lowers Position in iQIYI, Inc. (NASDAQ:IQ)

Legal & General Group Plc cut its stake in shares of iQIYI, Inc. (NASDAQ:IQ - Free Report) by 71.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,186,011 shares of the company's stock after selling 3,032,485 shares during the quarter. Legal & General Group Plc owned 0.12% of iQIYI worth $2,384,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its position in iQIYI by 138.2% during the 4th quarter. Quadrant Capital Group LLC now owns 48,674 shares of the company's stock worth $98,000 after purchasing an additional 28,238 shares during the period. ExodusPoint Capital Management LP acquired a new position in iQIYI during the fourth quarter worth $70,000. Franklin Resources Inc. raised its position in iQIYI by 12.0% in the fourth quarter. Franklin Resources Inc. now owns 194,274 shares of the company's stock worth $390,000 after acquiring an additional 20,888 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of iQIYI during the 4th quarter worth $1,998,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of iQIYI during the 4th quarter worth $6,297,000. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

iQIYI Trading Down 2.1 %

Shares of NASDAQ IQ traded down $0.04 during midday trading on Wednesday, reaching $1.84. 19,175,096 shares of the stock were exchanged, compared to its average volume of 21,752,747. The stock has a 50 day moving average price of $2.04 and a 200-day moving average price of $2.16. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.77 billion, a P/E ratio of 18.40, a P/E/G ratio of 4.13 and a beta of -0.18. iQIYI, Inc. has a 52-week low of $1.50 and a 52-week high of $5.80.

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

Wall Street Analyst Weigh In

IQ has been the subject of several recent analyst reports. Hsbc Global Res upgraded shares of iQIYI from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 16th. OTR Global reissued a "negative" rating on shares of iQIYI in a research note on Wednesday, January 8th. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a research note on Wednesday, February 19th. HSBC upgraded iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 target price on the stock in a research report on Thursday, January 16th. Finally, Citigroup lowered their price target on shares of iQIYI from $3.00 to $2.80 and set a "buy" rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $2.91.

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.