Ballentine Partners LLC Buys 7,219 Shares of iQIYI, Inc. (NASDAQ:IQ)

Ballentine Partners LLC lifted its stake in shares of iQIYI, Inc. (NASDAQ:IQ) by 65.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,317 shares of the company’s stock after purchasing an additional 7,219 shares during the period. Ballentine Partners LLC’s holdings in iQIYI were worth $77,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of iQIYI during the 4th quarter worth approximately $49,853,000. SG Americas Securities LLC raised its position in shares of iQIYI by 80.6% in the fourth quarter. SG Americas Securities LLC now owns 587,980 shares of the company’s stock valued at $2,869,000 after purchasing an additional 262,461 shares during the period. Vanguard Group Inc. lifted its stake in shares of iQIYI by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 17,586,474 shares of the company’s stock worth $83,360,000 after buying an additional 269,491 shares during the last quarter. Krane Funds Advisors LLC boosted its holdings in shares of iQIYI by 2.5% during the 4th quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock worth $93,669,000 after buying an additional 467,032 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its stake in iQIYI by 43.2% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,291,428 shares of the company’s stock valued at $11,205,000 after buying an additional 691,364 shares during the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Trading Down 5.8 %

Shares of NASDAQ:IQ opened at $3.60 on Friday. The business’s 50 day simple moving average is $4.59 and its 200 day simple moving average is $4.25. iQIYI, Inc. has a 1 year low of $3.06 and a 1 year high of $6.47. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $3.45 billion, a P/E ratio of 12.86, a P/E/G ratio of 0.29 and a beta of 0.15.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Thursday, May 16th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The firm had revenue of $1.11 billion for 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%. On average, research analysts anticipate that iQIYI, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IQ. Benchmark restated a “buy” rating and set a $9.00 price objective on shares of iQIYI in a report on Friday, May 17th. OTR Global reaffirmed a “mixed” rating on shares of iQIYI in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.18.

iQIYI 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.