iQIYI, Inc. (NASDAQ:IQ) Stock Position Trimmed by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its position in iQIYI, Inc. (NASDAQ:IQ) by 13.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 97,125 shares of the company’s stock after selling 15,636 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in iQIYI were worth $474,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IQ. SG Americas Securities LLC raised its stake in shares of iQIYI by 80.6% during the fourth quarter. SG Americas Securities LLC now owns 587,980 shares of the company’s stock valued at $2,869,000 after purchasing an additional 262,461 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of iQIYI by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,586,474 shares of the company’s stock worth $83,360,000 after acquiring an additional 269,491 shares during the period. Federated Hermes Inc. lifted its stake in shares of iQIYI by 147.8% in the 3rd quarter. Federated Hermes Inc. now owns 10,603,420 shares of the company’s stock worth $50,260,000 after acquiring an additional 6,324,876 shares during the period. Nordea Investment Management AB boosted its holdings in shares of iQIYI by 62.7% in the third quarter. Nordea Investment Management AB now owns 388,266 shares of the company’s stock valued at $1,831,000 after acquiring an additional 149,557 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of iQIYI by 301.7% during the third quarter. Invesco Ltd. now owns 2,082,326 shares of the company’s stock valued at $9,870,000 after acquiring an additional 1,564,006 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

Wall Street Analyst Weigh In

Separately, OTR Global restated a “mixed” rating on shares of iQIYI in a research report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.54.

iQIYI Stock Performance

NASDAQ:IQ opened at $4.99 on Friday. The company has a 50-day moving average of $4.08 and a 200-day moving average of $4.30. The firm 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 twelve month low of $3.06 and a twelve month high of $6.47.

iQIYI (NASDAQ:IQ) last released its earnings results on Wednesday, February 28th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. iQIYI had a net margin of 4.76% and a return on equity of 13.56%. Analysts forecast that iQIYI, Inc. will post 0.38 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.