Vanguard Personalized Indexing Management LLC Purchases New Position in iQIYI, Inc. (NASDAQ:IQ)

Vanguard Personalized Indexing Management LLC acquired a new stake in iQIYI, Inc. (NASDAQ:IQ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 12,586 shares of the company’s stock, valued at approximately $46,000.

Other hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System increased 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 valued at $539,000 after buying an additional 2,950 shares during the period. Ballentine Partners LLC lifted its holdings in shares of iQIYI by 65.0% during the first quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock worth $77,000 after purchasing an additional 7,219 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew 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 purchasing an additional 8,225 shares during the last quarter. DNB Asset Management AS increased its holdings in iQIYI by 45.0% in the second quarter. DNB Asset Management AS now owns 37,616 shares of the company’s stock valued at $138,000 after purchasing an additional 11,679 shares during the period. Finally, Sei Investments Co. raised its position in iQIYI by 23.1% during the 1st quarter. Sei Investments Co. now owns 101,928 shares of the company’s stock worth $431,000 after purchasing an additional 19,100 shares during the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Trading Up 5.2 %

NASDAQ:IQ opened at $3.01 on Wednesday. iQIYI, Inc. has a one year low of $1.92 and a one year high of $5.80. The company has a market cap of $2.89 billion, a PE ratio of 10.75, a PEG ratio of 0.49 and a beta of 0.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a 50-day moving average of $2.63 and a 200-day moving average of $3.73.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). iQIYI had a net margin of 5.37% and a return on equity of 14.57%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the business posted $0.05 EPS. As a group, equities research analysts expect that iQIYI, Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.