Arete Wealth Advisors LLC Takes Position in iQIYI, Inc. (NASDAQ:IQ)

Arete Wealth Advisors LLC acquired a new stake in shares of iQIYI, Inc. (NASDAQ:IQ) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,284 shares of the company’s stock, valued at approximately $349,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in iQIYI by 92.1% in the first quarter. FMR LLC now owns 6,366 shares of the company’s stock worth $46,000 after purchasing an additional 3,052 shares during the period. Baker Tilly Wealth Management LLC purchased a new stake in shares of iQIYI in the 1st quarter worth $73,000. Castleview Partners LLC purchased a new position in shares of iQIYI during the first quarter valued at $80,000. Wallace Advisory Group LLC bought a new stake in shares of iQIYI in the first quarter valued at about $82,000. Finally, DRW Securities LLC purchased a new stake in iQIYI in the fourth quarter worth about $61,000. 30.65% of the stock is currently owned by hedge funds and other institutional investors.

iQIYI Trading Down 0.2 %

Shares of IQ opened at $4.75 on Monday. The firm’s fifty day moving average is $5.30 and its two-hundred day moving average is $5.73. The stock has a market cap of $4.50 billion, a PE ratio of 67.87 and a beta of 0.66. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.07. iQIYI, Inc. has a 52-week low of $1.65 and a 52-week high of $7.99.

iQIYI (NASDAQ:IQ) last issued its earnings results on Tuesday, August 22nd. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. iQIYI had a return on equity of 5.25% and a net margin of 1.44%. Research analysts forecast that iQIYI, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Benchmark reduced their price objective on shares of iQIYI from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. HSBC dropped their target price on iQIYI from $5.80 to $5.60 and set a “hold” rating on the stock in a research report on Wednesday, August 23rd. Finally, Macquarie upgraded iQIYI from an “underperform” rating to a “neutral” rating and set a $5.12 price objective for the company in a research note on Thursday, July 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.94.

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.