iQIYI (NASDAQ:IQ) Trading Down 3.6%

iQIYI, Inc. (NASDAQ:IQGet Free Report) dropped 3.6% during trading on Friday . The company traded as low as $3.65 and last traded at $3.75. Approximately 1,318,316 shares were traded during trading, a decline of 85% from the average daily volume of 8,952,518 shares. The stock had previously closed at $3.89.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IQ. Benchmark reiterated a “buy” rating and issued a $9.00 price target on shares of iQIYI in a research note on Friday, May 17th. OTR Global reiterated 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 one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.18.

View Our Latest Stock Analysis on IQ

iQIYI Stock Performance

The company has a debt-to-equity ratio of 0.68, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a fifty day moving average price of $4.48 and a two-hundred day moving average price of $4.21. The company has a market cap of $3.68 billion, a P/E ratio of 13.71, a PEG ratio of 0.28 and a beta of 0.07.

iQIYI (NASDAQ:IQGet Free Report) last issued its quarterly earnings results on Thursday, May 16th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. iQIYI had a return on equity of 17.57% and a net margin of 6.23%. On average, equities analysts forecast that iQIYI, Inc. will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iQIYI

Several hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in iQIYI during the fourth quarter valued at $49,853,000. Maple Rock Capital Partners Inc. increased its holdings in shares of iQIYI by 65.4% in the 1st quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company’s stock valued at $43,654,000 after purchasing an additional 4,080,000 shares during the period. Federated Hermes Inc. lifted its position in shares of iQIYI by 14.6% in the fourth quarter. Federated Hermes Inc. now owns 12,153,225 shares of the company’s stock worth $59,308,000 after purchasing an additional 1,549,805 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of iQIYI by 28.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,370,494 shares of the company’s stock worth $21,320,000 after purchasing an additional 966,688 shares during the period. Finally, Lazard Asset Management LLC grew its position in iQIYI by 206.5% during the first quarter. Lazard Asset Management LLC now owns 1,137,614 shares of the company’s stock valued at $4,812,000 after purchasing an additional 766,436 shares in the last quarter. 52.69% of the stock is owned by hedge funds and other institutional investors.

About iQIYI

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for iQIYI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iQIYI and related companies with MarketBeat.com's FREE daily email newsletter.