12,412 Shares in iQIYI, Inc. (NASDAQ:IQ) Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. acquired a new stake in iQIYI, Inc. (NASDAQ:IQ) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,412 shares of the company’s stock, valued at approximately $61,000.

Several other hedge funds also recently made changes to their positions in IQ. Pathstone Family Office LLC acquired a new stake in shares of iQIYI during the third quarter worth about $62,000. Deltec Asset Management LLC raised its holdings in iQIYI by 124.3% during the third quarter. Deltec Asset Management LLC now owns 41,500 shares of the company’s stock worth $197,000 after purchasing an additional 23,000 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in iQIYI by 5.9% in the third quarter. Asset Management One Co. Ltd. now owns 65,324 shares of the company’s stock valued at $310,000 after purchasing an additional 3,632 shares during the period. Principal Financial Group Inc. boosted its holdings in iQIYI by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 100,567 shares of the company’s stock valued at $477,000 after purchasing an additional 5,691 shares in the last quarter. Finally, abrdn plc increased its position in iQIYI by 13.4% during the 3rd quarter. abrdn plc now owns 119,607 shares of the company’s stock worth $567,000 after purchasing an additional 14,102 shares during the period. Hedge funds and other institutional investors own 52.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, OTR Global reissued a “mixed” rating on shares of iQIYI in a report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.54.

iQIYI Price Performance

IQ stock opened at $4.99 on Friday. The firm has a 50 day moving average of $4.08 and a 200-day moving average of $4.30. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 22.68 and a beta of 0.27. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.68. iQIYI, Inc. has a 12-month low of $3.06 and a 12-month high of $6.47.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. iQIYI had a return on equity of 13.56% and a net margin of 4.76%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.08 billion. As a group, equities analysts expect that iQIYI, Inc. will post 0.38 EPS for the current fiscal year.

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.