E Fund Management Co. Ltd. Increases Holdings in iQIYI, Inc. (NASDAQ:IQ)

E Fund Management Co. Ltd. increased its position in iQIYI, Inc. (NASDAQ:IQ) by 39.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,667,758 shares of the company’s stock after acquiring an additional 756,552 shares during the period. E Fund Management Co. Ltd. owned approximately 0.28% of iQIYI worth $5,362,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in iQIYI during the 4th quarter valued at about $32,000. Y Intercept Hong Kong Ltd purchased a new position in shares of iQIYI during the 4th quarter worth approximately $468,000. Vontobel Holding Ltd. raised its position in shares of iQIYI by 29.9% during the 4th quarter. Vontobel Holding Ltd. now owns 246,907 shares of the company’s stock worth $496,000 after purchasing an additional 56,778 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake 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 in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in iQIYI during the 4th quarter valued at $47,000. 52.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IQ shares. Benchmark reissued a “hold” rating on shares of iQIYI in a report on Wednesday, February 19th. Citigroup cut their target price on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a research note on Thursday, January 16th. Hsbc Global Res raised shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective for the company in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.91.

iQIYI Price Performance

IQ opened at $2.32 on Friday. iQIYI, Inc. has a 1 year low of $1.82 and a 1 year high of $5.80. The company’s 50 day simple moving average is $2.14 and its 200 day simple moving average is $2.28. The stock has a market capitalization of $2.23 billion, a PE ratio of 23.20, a P/E/G ratio of 4.13 and a beta of 0.03. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44.

iQIYI (NASDAQ:IQ) last announced 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. The company had revenue of $919.56 million for the quarter, compared to analyst estimates of $6.62 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. As a group, sell-side analysts expect that iQIYI, Inc. will post 0.04 EPS for the current year.

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.