American Century Companies Inc. Raises Position in iQIYI, Inc. (NASDAQ:IQ)

American Century Companies Inc. lifted its stake in iQIYI, Inc. (NASDAQ:IQ) by 36.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 946,984 shares of the company’s stock after buying an additional 251,813 shares during the period. American Century Companies Inc. owned approximately 0.10% of iQIYI worth $3,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in shares of iQIYI by 2.4% in the first quarter. California State Teachers Retirement System now owns 127,426 shares of the company’s stock worth $539,000 after acquiring an additional 2,950 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of iQIYI by 65.0% in the first quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock worth $77,000 after acquiring an additional 7,219 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of iQIYI by 59.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock worth $81,000 after acquiring an additional 8,225 shares in the last quarter. DNB Asset Management AS lifted its stake in shares of iQIYI by 45.0% in the second quarter. DNB Asset Management AS now owns 37,616 shares of the company’s stock worth $138,000 after acquiring an additional 11,679 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of iQIYI by 23.1% in the first quarter. Sei Investments Co. now owns 101,928 shares of the company’s stock worth $431,000 after acquiring an additional 19,100 shares in the last quarter. Hedge funds and other institutional investors own 52.69% of the company’s stock.

Analyst Ratings Changes

IQ has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Benchmark cut iQIYI from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. HSBC cut iQIYI from a “hold” rating to a “reduce” rating and cut their price objective for the company from $4.70 to $3.00 in a research note on Tuesday, July 23rd. The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective on the stock. in a research note on Tuesday, August 27th. Finally, Hsbc Global Res cut iQIYI from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.45.

iQIYI Stock Performance

Shares of IQ stock opened at $2.68 on Friday. iQIYI, Inc. has a 12-month low of $1.92 and a 12-month high of $5.80. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 0.49 and a beta of 0.05. The business has a 50 day simple moving average of $2.66 and a 200 day simple moving average of $3.75. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. iQIYI had a net margin of 5.37% and a return on equity of 14.57%. During the same period in the previous year, the business posted $0.05 earnings per share. On average, equities research analysts anticipate that iQIYI, Inc. will post 0.16 EPS for the current year.

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.