OTR Global Reaffirms “Negative” Rating for iQIYI (NASDAQ:IQ)

iQIYI (NASDAQ:IQ)‘s stock had its “negative” rating reiterated by OTR Global in a report issued on Wednesday,Benzinga reports.

IQ has been the topic of several other research reports. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Friday, November 22nd. JPMorgan Chase & Co. decreased their target price 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. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.15.

iQIYI Price Performance

IQ stock opened at $2.02 on Wednesday. iQIYI has a 1 year low of $1.89 and a 1 year high of $5.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a market capitalization of $1.94 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.58 and a beta of 0.02. The business has a 50 day simple moving average of $2.18 and a 200-day simple moving average of $2.65.

Institutional Trading of iQIYI

Hedge funds have recently added to or reduced their stakes in the stock. Genesis Investment Management LLP increased its stake 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 during the period. Federated Hermes Inc. increased 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 purchasing an additional 2,549,287 shares during the period. Dimensional Fund Advisors LP increased its position 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 during the period. Quarry LP purchased a new position in shares of iQIYI during the 2nd quarter worth approximately $18,075,000. Finally, Geode Capital Management LLC lifted its holdings in shares of iQIYI by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company’s stock valued at $9,256,000 after buying an additional 112,709 shares during the period. 52.69% of the stock is owned by institutional investors and hedge funds.

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.