iQIYI (NASDAQ:IQ) Shares Up 5.7% – Here’s What Happened

iQIYI, Inc. (NASDAQ:IQ) shares rose 5.7% during trading on Monday . The company traded as high as $2.46 and last traded at $2.49. Approximately 14,021,425 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 16,541,597 shares. The stock had previously closed at $2.35.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IQ shares. Benchmark restated a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. OTR Global reiterated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective on the stock in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.91.

iQIYI Stock Performance

The firm’s 50-day moving average price is $2.18 and its two-hundred day moving average price is $2.26. The firm has a market capitalization of $2.38 billion, a PE ratio of 24.85, a P/E/G ratio of 4.13 and a beta of 0.05. The company has a quick ratio of 0.45, a current ratio of 0.44 and a debt-to-equity ratio of 0.70.

iQIYI (NASDAQ:IQ) last released its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. The business had revenue of $919.56 million for the quarter, compared to the consensus estimate of $6.62 billion. As a group, research analysts predict that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Trading of iQIYI

A number of institutional investors and hedge funds have recently modified their holdings of IQ. Robeco Institutional Asset Management B.V. raised its holdings 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 acquiring an additional 1,114,390 shares in the last quarter. Krane Funds Advisors LLC lifted its position in iQIYI by 82.1% in the fourth quarter. Krane Funds Advisors LLC now owns 21,763,769 shares of the company’s stock worth $43,745,000 after purchasing an additional 9,809,187 shares during the period. Vanguard Group Inc. boosted its stake in iQIYI by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 18,293,085 shares of the company’s stock worth $36,769,000 after buying an additional 502,154 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of iQIYI by 41.6% in the 4th 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 in the last quarter. Finally, Barclays PLC lifted its holdings in shares of iQIYI by 78.2% during the 4th quarter. Barclays PLC now owns 3,745,666 shares of the company’s stock worth $7,529,000 after acquiring an additional 1,643,387 shares during the period. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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.