Fmr LLC Has $394,000 Stake in iQIYI, Inc. (NASDAQ:IQ)

Fmr LLC increased its holdings in shares of iQIYI, Inc. (NASDAQ:IQ) by 738.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,793 shares of the company’s stock after buying an additional 121,352 shares during the period. Fmr LLC’s holdings in iQIYI were worth $394,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IQ. Genesis Investment Management LLP increased its position in shares of iQIYI by 112.1% during the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after acquiring an additional 8,765,711 shares in the last quarter. Federated Hermes Inc. boosted its stake in iQIYI by 18.9% in the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock worth $58,929,000 after purchasing an additional 2,549,287 shares during the period. Dimensional Fund Advisors LP increased its holdings in iQIYI by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock worth $21,443,000 after purchasing an additional 694,349 shares in the last quarter. Quarry LP acquired a new stake in shares of iQIYI in the 2nd quarter valued at about $18,075,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of iQIYI by 185.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock valued at $7,803,000 after purchasing an additional 1,381,265 shares in the last quarter. 52.69% of the stock is currently owned by institutional investors and hedge funds.

iQIYI Price Performance

iQIYI stock opened at $2.03 on Friday. The stock has a fifty day moving average of $2.32 and a 200-day moving average of $2.86. The stock has a market capitalization of $1.95 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 0.60 and a beta of 0.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45. iQIYI, Inc. has a 52 week low of $1.89 and a 52 week high of $5.80.

Analysts Set New Price Targets

Several research firms recently issued reports on IQ. Benchmark reiterated a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. Nomura Securities raised iQIYI to a “hold” rating in a report on Monday, August 26th. The Goldman Sachs Group cut shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price for the company. in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. dropped their price target on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, iQIYI presently has an average rating of “Hold” and an average price target of $3.15.

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.