Bank of New York Mellon Corp Sells 333,157 Shares of iQIYI, Inc. (NASDAQ:IQ)

Bank of New York Mellon Corp reduced its stake in iQIYI, Inc. (NASDAQ:IQ) by 41.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 469,193 shares of the company’s stock after selling 333,157 shares during the period. Bank of New York Mellon Corp’s holdings in iQIYI were worth $943,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in IQ. Flow Traders U.S. LLC acquired a new position in shares of iQIYI in the 3rd quarter valued at $32,000. HighTower Advisors LLC grew its stake in iQIYI by 102.9% in the third quarter. HighTower Advisors LLC now owns 19,840 shares of the company’s stock valued at $56,000 after acquiring an additional 701,901 shares during the period. Ballentine Partners LLC acquired a new position in iQIYI in the fourth quarter valued at about $47,000. Public Employees Retirement System of Ohio bought a new stake in shares of iQIYI in the third quarter worth about $88,000. Finally, Tidal Investments LLC acquired a new stake in shares of iQIYI during the third quarter worth about $164,000. 52.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IQ shares. Hsbc Global Res raised shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 16th. OTR Global reiterated 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. HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective for the company in a report on Thursday, January 16th. Finally, Benchmark reissued a “hold” rating on shares of iQIYI in a research report on Wednesday, February 19th. One investment 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 MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.91.

iQIYI Price Performance

NASDAQ:IQ opened at $2.21 on Wednesday. iQIYI, Inc. has a 52-week low of $1.82 and a 52-week high of $5.80. The company has a market cap of $2.12 billion, a P/E ratio of 22.10, a P/E/G ratio of 4.13 and a beta of 0.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44. The stock’s 50-day simple moving average is $2.23 and its 200 day simple moving average is $2.27.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $919.56 million during the quarter, compared to the consensus estimate of $6.62 billion. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. As a group, sell-side analysts forecast that iQIYI, Inc. will post 0.04 EPS for the current fiscal 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.