Mirae Asset Global Investments Co. Ltd. Has $28,000 Stock Position in iQIYI, Inc. (NASDAQ:IQ)

Mirae Asset Global Investments Co. Ltd. reduced its position in iQIYI, Inc. (NASDAQ:IQ) by 91.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,005 shares of the company’s stock after selling 152,862 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in iQIYI were worth $28,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IQ. Robeco Institutional Asset Management B.V. grew its stake in iQIYI by 4.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company’s stock valued at $48,959,000 after acquiring an additional 1,114,390 shares during the period. Geode Capital Management LLC grew its stake in iQIYI by 3.6% in the third quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company’s stock valued at $9,256,000 after acquiring an additional 112,709 shares during the period. BNP Paribas Financial Markets grew its stake in iQIYI by 77.1% in the third quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company’s stock valued at $5,354,000 after acquiring an additional 815,226 shares during the period. Monolith Management Ltd acquired a new position in iQIYI in the third quarter valued at about $4,576,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in iQIYI in the third quarter valued at about $835,000. 52.69% of the stock is owned by institutional investors and hedge funds.

iQIYI Stock Up 0.8 %

Shares of NASDAQ:IQ opened at $2.54 on Friday. The firm has a market cap of $2.44 billion, a P/E ratio of 12.70, a P/E/G ratio of 3.76 and a beta of 0.03. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. iQIYI, Inc. has a 12-month low of $1.82 and a 12-month high of $5.80. The business has a fifty day simple moving average of $2.13 and a 200 day simple moving average of $2.37.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Thursday, November 21st. The company reported $0.06 earnings per share for the quarter, topping 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 in the prior year, the company posted $0.07 earnings per share. Analysts predict that iQIYI, Inc. will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. OTR Global restated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Citigroup cut their price target on iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a report on Thursday, January 16th. Benchmark restated a “hold” rating on shares of iQIYI in a report on Friday, January 24th. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. Finally, HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target on the stock in a report on Thursday, January 16th. One 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, the stock has a consensus rating of “Hold” and a consensus price target of $2.91.

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.