State Street Corp Has $20.67 Million Stock Position in iQIYI, Inc. (NASDAQ:IQ)

State Street Corp cut its holdings in shares of iQIYI, Inc. (NASDAQ:IQ) by 52.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,227,103 shares of the company’s stock after selling 7,932,856 shares during the quarter. State Street Corp owned about 0.75% of iQIYI worth $20,670,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of iQIYI in the second quarter valued at about $31,000. Flow Traders U.S. LLC bought a new stake in shares of iQIYI in the 3rd quarter worth approximately $32,000. Ground Swell Capital LLC acquired a new stake in shares of iQIYI during the 3rd quarter worth approximately $32,000. Seven Eight Capital LP bought a new stake in shares of iQIYI during the second quarter valued at approximately $42,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of iQIYI in the second quarter valued at $46,000. 52.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Nomura Securities raised shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. The Goldman Sachs Group lowered shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target for the company. in a research report on Tuesday, August 27th. Finally, Benchmark reaffirmed a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, iQIYI currently has an average rating of “Hold” and a consensus target price of $3.15.

iQIYI Trading Up 2.0 %

Shares of iQIYI stock opened at $2.09 on Tuesday. iQIYI, Inc. has a 12-month low of $1.89 and a 12-month high of $5.80. The stock has a market capitalization of $2.01 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 0.60 and a beta of 0.02. The company has a 50-day simple moving average of $2.30 and a 200 day simple moving average of $2.81. 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 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.