Vontobel Holding Ltd. Has $544,000 Holdings in iQIYI, Inc. (NASDAQ:IQ)

Vontobel Holding Ltd. grew its position in iQIYI, Inc. (NASDAQ:IQ) by 404.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 190,129 shares of the company’s stock after acquiring an additional 152,418 shares during the period. Vontobel Holding Ltd.’s holdings in iQIYI were worth $544,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Genesis Investment Management LLP raised its position in iQIYI by 112.1% in the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock valued at $47,425,000 after purchasing an additional 8,765,711 shares during the last quarter. Quarry LP acquired a new position in shares of iQIYI in the second quarter valued at approximately $18,075,000. Maple Rock Capital Partners Inc. raised its holdings in iQIYI by 65.4% in the 1st quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company’s stock valued at $43,654,000 after buying an additional 4,080,000 shares during the last quarter. Federated Hermes Inc. boosted its position in iQIYI by 18.9% during the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock worth $58,929,000 after buying an additional 2,549,287 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in iQIYI by 185.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock worth $7,803,000 after buying an additional 1,381,265 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Stock Performance

IQ stock opened at $2.41 on Tuesday. iQIYI, Inc. has a 1-year low of $1.92 and a 1-year high of $5.80. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $2.49 and a 200-day moving average price of $3.58. The firm has a market cap of $2.31 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.70 and a beta of 0.07.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05). The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a net margin of 5.37% and a return on equity of 14.57%. During the same period last year, the firm posted $0.05 earnings per share. As a group, equities research analysts expect that iQIYI, Inc. will post 0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IQ. JPMorgan Chase & Co. dropped their price target on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Hsbc Global Res lowered iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group lowered iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target on the stock. in a research report on Tuesday, August 27th. HSBC downgraded iQIYI from a “hold” rating to a “reduce” rating and lowered their price objective for the stock from $4.70 to $3.00 in a research report on Tuesday, July 23rd. Finally, Benchmark cut iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.45.

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.