E Fund Management Hong Kong Co. Ltd. Sells 30,000 Shares of iQIYI, Inc. (NASDAQ:IQ)

E Fund Management Hong Kong Co. Ltd. reduced its position in shares of iQIYI, Inc. (NASDAQ:IQ) by 7.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 348,773 shares of the company’s stock after selling 30,000 shares during the period. iQIYI comprises about 0.6% of E Fund Management Hong Kong Co. Ltd.’s investment portfolio, making the stock its 19th biggest position. E Fund Management Hong Kong Co. Ltd.’s holdings in iQIYI were worth $997,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. raised its stake in shares of iQIYI by 404.2% in the third quarter. Vontobel Holding Ltd. now owns 190,129 shares of the company’s stock worth $544,000 after acquiring an additional 152,418 shares during the last quarter. Creative Planning raised its stake in shares of iQIYI by 31.5% in the third quarter. Creative Planning now owns 108,280 shares of the company’s stock worth $310,000 after acquiring an additional 25,961 shares during the last quarter. Genesis Investment Management LLP raised its stake in shares of iQIYI by 112.1% in the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after acquiring an additional 8,765,711 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of iQIYI by 8,351.7% in the third quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock worth $2,875,000 after acquiring an additional 993,355 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of iQIYI during the second quarter worth approximately $18,075,000. 52.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IQ shares. Benchmark downgraded 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. The Goldman Sachs Group downgraded shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target for the company. in a research note on Tuesday, August 27th. HSBC cut shares of iQIYI from a “hold” rating to a “reduce” rating and decreased their price objective for the company from $4.70 to $3.00 in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.45.

iQIYI Stock Down 0.7 %

Shares of NASDAQ IQ opened at $2.70 on Thursday. The stock has a market cap of $2.59 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.68 and a beta of 0.07. The firm has a 50 day moving average price of $2.42 and a 200 day moving average price of $3.50. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.53. iQIYI, Inc. has a 52-week low of $1.92 and a 52-week high of $5.80.

iQIYI (NASDAQ:IQ) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a net margin of 5.37% and a return on equity of 14.57%. During the same quarter last year, the company earned $0.05 EPS. Analysts expect that iQIYI, Inc. will post 0.16 EPS for the current 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.