iQIYI (NASDAQ:IQ) Shares Up 7.2%

iQIYI, Inc. (NASDAQ:IQ)’s share price rose 7.2% during mid-day trading on Wednesday . The stock traded as high as $3.90 and last traded at $3.89. Approximately 5,723,669 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 8,971,638 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

IQ has been the subject of several research analyst reports. OTR Global restated a “mixed” rating on shares of iQIYI in a report on Thursday, April 4th. Benchmark restated a “buy” rating and issued a $9.00 target price on shares of iQIYI in a report on Friday, May 17th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.18.

iQIYI Stock Performance

The stock has a market cap of $3.73 billion, a PE ratio of 13.89, a P/E/G ratio of 0.28 and a beta of 0.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.60 and a current ratio of 0.60. The firm’s 50-day moving average is $4.51 and its 200 day moving average is $4.21.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Thursday, May 16th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. iQIYI had a net margin of 6.23% and a return on equity of 17.57%. As a group, research analysts anticipate that iQIYI, Inc. will post 0.38 EPS for the current year.

Hedge Funds Weigh In On iQIYI

A number of large investors have recently bought and sold shares of IQ. Norges Bank purchased a new position in iQIYI during the 4th quarter worth $49,853,000. Maple Rock Capital Partners Inc. grew its stake in shares of iQIYI by 65.4% during the 1st quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company’s stock worth $43,654,000 after purchasing an additional 4,080,000 shares during the period. Invesco Ltd. grew its stake in shares of iQIYI by 301.7% during the 3rd quarter. Invesco Ltd. now owns 2,082,326 shares of the company’s stock worth $9,870,000 after purchasing an additional 1,564,006 shares during the period. Federated Hermes Inc. grew its stake in shares of iQIYI by 14.6% during the 4th quarter. Federated Hermes Inc. now owns 12,153,225 shares of the company’s stock worth $59,308,000 after purchasing an additional 1,549,805 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of iQIYI by 28.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,370,494 shares of the company’s stock worth $21,320,000 after purchasing an additional 966,688 shares during the period. Hedge funds and other institutional investors own 52.69% of the company’s stock.

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.