OTR Global Reiterates “Negative” Rating for iQIYI (NASDAQ:IQ)

iQIYI (NASDAQ:IQ)‘s stock had its “negative” rating reaffirmed by research analysts at OTR Global in a research report issued to clients and investors on Wednesday,Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price objective on iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a research note on Friday, November 22nd. Benchmark restated a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.15.

iQIYI Stock Down 0.2 %

Shares of NASDAQ IQ traded down $0.01 during midday trading on Wednesday, hitting $2.02. The company’s stock had a trading volume of 12,870,439 shares, compared to its average volume of 14,782,113. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 0.58 and a beta of 0.02. The business’s fifty day simple moving average is $2.19 and its two-hundred day simple moving average is $2.65. iQIYI has a 1 year low of $1.89 and a 1 year high of $5.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Garden State Investment Advisory Services LLC acquired a new position in shares of iQIYI in the 3rd quarter valued at about $835,000. BNP Paribas Financial Markets grew its position in iQIYI by 77.1% during the third quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company’s stock valued at $5,354,000 after purchasing an additional 815,226 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in iQIYI by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock valued at $21,443,000 after buying an additional 694,349 shares during the period. Genesis Investment Management LLP lifted its position in iQIYI by 112.1% in the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after buying an additional 8,765,711 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of iQIYI by 8,351.7% during the 3rd quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock valued at $2,875,000 after buying an additional 993,355 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

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.