IvyRock Asset Management HK Ltd Grows Stock Holdings in iQIYI, Inc. (NASDAQ:IQ)

IvyRock Asset Management HK Ltd lifted its holdings in shares of iQIYI, Inc. (NASDAQ:IQ) by 20.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 60,000 shares of the company’s stock after buying an additional 10,000 shares during the period. iQIYI makes up about 0.1% of IvyRock Asset Management HK Ltd’s portfolio, making the stock its 21st biggest holding. IvyRock Asset Management HK Ltd’s holdings in iQIYI were worth $121,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Corient Private Wealth LLC increased its stake in iQIYI by 37.3% during the 4th quarter. Corient Private Wealth LLC now owns 28,138 shares of the company’s stock worth $57,000 after buying an additional 7,645 shares during the period. Flow Traders U.S. LLC purchased a new stake in iQIYI during the 3rd quarter worth approximately $32,000. SBI Securities Co. Ltd. acquired a new position in shares of iQIYI in the 4th quarter valued at approximately $32,000. PDS Planning Inc purchased a new position in shares of iQIYI during the 4th quarter valued at approximately $35,000. Finally, Ballentine Partners LLC acquired a new stake in shares of iQIYI during the fourth quarter worth approximately $47,000. 52.69% of the stock is owned by hedge funds and other institutional investors.

iQIYI Trading Down 3.5 %

Shares of NASDAQ:IQ opened at $2.20 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.44 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $2.23 and its 200 day moving average price is $2.27. The company has a market cap of $2.11 billion, a PE ratio of 22.00, a P/E/G ratio of 4.13 and a beta of 0.05. iQIYI, Inc. has a fifty-two week low of $1.82 and a fifty-two week high of $5.80.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IQ shares. HSBC upgraded shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective on the stock in a research note on Thursday, January 16th. Benchmark reissued a “hold” rating on shares of iQIYI in a report on Wednesday, February 19th. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. Citigroup decreased their target price on iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, OTR Global reiterated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, iQIYI has a consensus rating of “Hold” and a consensus target price of $2.91.

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.