iQIYI (NASDAQ:IQ) Stock Price Down 4.5%

iQIYI, Inc. (NASDAQ:IQ)’s stock price dropped 4.5% on Thursday . The stock traded as low as $3.63 and last traded at $3.65. Approximately 1,352,559 shares changed hands during trading, a decline of 85% from the average daily volume of 8,992,520 shares. The stock had previously closed at $3.82.

Wall Street Analyst Weigh In

IQ has been the subject of several analyst reports. Benchmark restated a “buy” rating and set a $9.00 target price on shares of iQIYI in a research report on Friday, May 17th. OTR Global restated a “mixed” rating on shares of iQIYI in a research report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, iQIYI presently has an average rating of “Hold” and a consensus price target of $6.18.

iQIYI Price Performance

The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.60 and a current ratio of 0.60. The company has a 50-day moving average of $4.58 and a 200-day moving average of $4.24. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 0.26 and a beta of 0.15.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Thursday, May 16th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.04. iQIYI had a return on equity of 17.57% and a net margin of 6.23%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. As a group, research analysts anticipate that iQIYI, Inc. will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On iQIYI

A number of large investors have recently bought and sold shares of IQ. Invesco Ltd. boosted its position in iQIYI by 301.7% during the 3rd quarter. Invesco Ltd. now owns 2,082,326 shares of the company’s stock worth $9,870,000 after acquiring an additional 1,564,006 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new stake in shares of iQIYI during the 3rd quarter worth approximately $19,434,000. SCEP Management Ltd raised its stake in shares of iQIYI by 22.3% during the 3rd quarter. SCEP Management Ltd now owns 15,000,000 shares of the company’s stock worth $71,100,000 after purchasing an additional 2,731,681 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of iQIYI by 8.3% during the 3rd quarter. Penserra Capital Management LLC now owns 567,491 shares of the company’s stock worth $2,689,000 after purchasing an additional 43,300 shares in the last quarter. Finally, Vanguard Group Inc. raised 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 purchasing an additional 269,491 shares in the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

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.