Ballentine Partners LLC Makes New Investment in iQIYI, Inc. (NASDAQ:IQ)

Ballentine Partners LLC purchased a new position in iQIYI, Inc. (NASDAQ:IQ) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,526 shares of the company’s stock, valued at approximately $47,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Genesis Investment Management LLP lifted 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 worth $47,425,000 after buying an additional 8,765,711 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of iQIYI by 13.5% in 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 purchased a new position in shares of iQIYI in the second quarter worth $18,075,000. Geode Capital Management LLC raised its position in iQIYI by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company’s stock worth $9,256,000 after buying an additional 112,709 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in 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 acquiring an additional 1,381,265 shares during the period. 52.69% of the stock is currently owned by institutional investors.

iQIYI Stock Performance

NASDAQ IQ opened at $2.23 on Monday. iQIYI, Inc. has a 1-year low of $1.82 and a 1-year high of $5.80. The company has a market capitalization of $2.14 billion, a P/E ratio of 11.15, a PEG ratio of 3.15 and a beta of 0.02. The business has a 50 day moving average price of $2.08 and a 200 day moving average price of $2.48. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Thursday, November 21st. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. iQIYI had a return on equity of 13.26% and a net margin of 4.69%. During the same quarter last year, the company earned $0.07 EPS. Sell-side analysts expect that iQIYI, Inc. will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

IQ has been the subject of several research reports. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research report on Friday. HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 target price on the stock in a research note on Thursday, January 16th. OTR Global reissued a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. Finally, Citigroup lowered their price objective on iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $2.91.

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.