SG Americas Securities LLC purchased a new stake in IQIYI Inc (NASDAQ:IQ) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 413,677 shares of the company’s stock, valued at approximately $9,895,000. SG Americas Securities LLC owned 0.06% of IQIYI at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Bank of Montreal Can increased its holdings in IQIYI by 155.3% in the 4th quarter. Bank of Montreal Can now owns 2,470,252 shares of the company’s stock valued at $36,732,000 after buying an additional 1,502,517 shares during the period. Elephas Investment Management Ltd grew its holdings in shares of IQIYI by 696.2% in the 4th quarter. Elephas Investment Management Ltd now owns 424,400 shares of the company’s stock worth $6,311,000 after purchasing an additional 371,100 shares during the last quarter. Totem Point Management LLC bought a new stake in shares of IQIYI in the 4th quarter worth about $5,178,000. North Star Investment Management Corp. bought a new stake in shares of IQIYI in the 4th quarter worth about $86,000. Finally, LMR Partners LLP grew its holdings in shares of IQIYI by 46.0% in the 4th quarter. LMR Partners LLP now owns 255,520 shares of the company’s stock worth $3,800,000 after purchasing an additional 80,520 shares during the last quarter. 16.46% of the stock is currently owned by hedge funds and other institutional investors.
IQIYI stock traded down $0.60 during trading hours on Wednesday, reaching $18.70. 5,928,200 shares of the company’s stock traded hands, compared to its average volume of 10,166,716. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. IQIYI Inc has a fifty-two week low of $14.35 and a fifty-two week high of $46.23. The company has a market cap of $13.97 billion, a PE ratio of -7.57 and a beta of 3.24.
IQIYI (NASDAQ:IQ) last announced its quarterly earnings results on Thursday, May 16th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.17. The business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.89 billion. IQIYI had a negative net margin of 38.72% and a negative return on equity of 49.17%. IQIYI’s revenue for the quarter was up 43.0% on a year-over-year basis. During the same period last year, the company posted ($0.31) EPS. Research analysts forecast that IQIYI Inc will post -1.35 EPS for the current year.
Several research firms have recently weighed in on IQ. Zacks Investment Research lowered shares of IQIYI from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. HSBC lowered their target price on shares of IQIYI from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Tuesday, April 2nd. ValuEngine lowered shares of IQIYI from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Tigress Financial initiated coverage on shares of IQIYI in a report on Friday, March 15th. They set a “buy” rating on the stock. Finally, New Street Research raised shares of IQIYI from a “neutral” rating to a “buy” rating in a report on Friday, February 22nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.33.
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iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.
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