Catalyst Funds Management Pty Ltd Takes $627,000 Position in iQIYI, Inc. (NASDAQ:IQ)

Catalyst Funds Management Pty Ltd bought a new position in shares of iQIYI, Inc. (NASDAQ:IQ) during the fourth quarter, Holdings Channel.com reports. The fund bought 311,800 shares of the company’s stock, valued at approximately $627,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IQ. Flow Traders U.S. LLC acquired a new stake in shares of iQIYI in the third quarter valued at approximately $32,000. SBI Securities Co. Ltd. purchased a new stake in iQIYI in the 4th quarter valued at $32,000. Ballentine Partners LLC acquired a new stake in iQIYI during the 4th quarter worth $47,000. HighTower Advisors LLC grew its position in iQIYI by 102.9% during the 3rd quarter. HighTower Advisors LLC now owns 19,840 shares of the company’s stock worth $56,000 after purchasing an additional 701,901 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in iQIYI in the third quarter valued at $88,000. 52.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IQ has been the topic of a number of research reports. HSBC raised iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target on the stock in a report on Thursday, January 16th. Citigroup cut their price target on iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a research note on Thursday, January 16th. Hsbc Global Res upgraded shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 16th. Benchmark restated a “hold” rating on shares of iQIYI in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their target price on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.91.

iQIYI Stock Performance

Shares of IQ opened at $2.35 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.44 and a debt-to-equity ratio of 0.70. iQIYI, Inc. has a 52-week low of $1.82 and a 52-week high of $5.80. The company has a 50-day simple moving average of $2.18 and a 200-day simple moving average of $2.26. The company has a market capitalization of $2.25 billion, a PE ratio of 23.50, a P/E/G ratio of 4.13 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last issued its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. The company had revenue of $919.56 million during the quarter, compared to analysts’ expectations of $6.62 billion. Equities research analysts predict that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

iQIYI 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.