Vontobel Holding Ltd. Purchases 56,778 Shares of iQIYI, Inc. (NASDAQ:IQ)

Vontobel Holding Ltd. grew its position in shares of iQIYI, Inc. (NASDAQ:IQ) by 29.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 246,907 shares of the company’s stock after acquiring an additional 56,778 shares during the quarter. Vontobel Holding Ltd.’s holdings in iQIYI were worth $496,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Flow Traders U.S. LLC bought a new stake in iQIYI in the third quarter worth $32,000. Ground Swell Capital LLC bought a new stake in iQIYI in the third quarter worth $32,000. Ballentine Partners LLC bought a new stake in iQIYI in the fourth quarter worth $47,000. HighTower Advisors LLC lifted its position in iQIYI by 102.9% in the third quarter. HighTower Advisors LLC now owns 19,840 shares of the company’s stock worth $56,000 after buying an additional 701,901 shares during the last quarter. Finally, One Wealth Management Investment & Advisory Services LLC bought a new stake in iQIYI in the third quarter worth $72,000. 52.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on IQ shares. OTR Global restated a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target for the company in a research report on Thursday, January 16th. JPMorgan Chase & Co. reduced their target price on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, Benchmark reiterated a “hold” rating on shares of iQIYI in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, iQIYI presently has a consensus rating of “Hold” and an average price target of $2.91.

iQIYI Stock Performance

IQ stock opened at $2.18 on Friday. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 3.72 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 twelve month low of $1.82 and a twelve month high of $5.80. The business’s fifty day simple moving average is $2.13 and its two-hundred day simple moving average is $2.35.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $919.56 million for the quarter, compared to analyst estimates of $6.62 billion. iQIYI had a return on equity of 7.67% and a net margin of 2.62%. Analysts predict that iQIYI, Inc. will post 0.04 earnings per share for the current year.

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.