iQIYI, Inc. (NASDAQ:IQ) Shares Purchased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lifted its holdings in iQIYI, Inc. (NASDAQ:IQ) by 39.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,667,758 shares of the company’s stock after buying an additional 756,552 shares during the quarter. E Fund Management Co. Ltd.’s holdings in iQIYI were worth $5,362,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in IQ. Flow Traders U.S. LLC purchased a new stake in shares of iQIYI during the 3rd quarter valued at about $32,000. SBI Securities Co. Ltd. acquired a new stake in iQIYI in the fourth quarter valued at approximately $32,000. Ballentine Partners LLC purchased a new stake in shares of iQIYI during the fourth quarter valued at approximately $47,000. HighTower Advisors LLC lifted its position in shares of iQIYI by 102.9% during the third quarter. HighTower Advisors LLC now owns 19,840 shares of the company’s stock worth $56,000 after purchasing an additional 701,901 shares in the last quarter. Finally, One Wealth Management Investment & Advisory Services LLC purchased a new position in shares of iQIYI in the third quarter valued at $72,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

iQIYI Stock Performance

Shares of NASDAQ IQ opened at $2.32 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.44 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average price is $2.14 and its two-hundred day moving average price is $2.28. iQIYI, Inc. has a 52-week low of $1.82 and a 52-week high of $5.80. The stock has a market capitalization of $2.23 billion, a P/E ratio of 23.20, a PEG ratio of 4.13 and a beta of 0.03.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup cut their price objective on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a report on Thursday, January 16th. HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target on the stock in a research note on Thursday, January 16th. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. cut their target price on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Finally, OTR Global reissued a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.