Sumitomo Mitsui DS Asset Management Company Ltd Buys 8,225 Shares of iQIYI, Inc. (NASDAQ:IQ)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of iQIYI, Inc. (NASDAQ:IQ) by 59.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,954 shares of the company’s stock after purchasing an additional 8,225 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in iQIYI were worth $81,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ballentine Partners LLC grew its position in iQIYI by 65.0% in the 1st quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock valued at $77,000 after purchasing an additional 7,219 shares during the period. Jump Financial LLC bought a new position in shares of iQIYI in the fourth quarter valued at $114,000. Principal Financial Group Inc. acquired a new position in shares of iQIYI during the second quarter valued at about $133,000. DNB Asset Management AS increased its position in shares of iQIYI by 45.0% during the second quarter. DNB Asset Management AS now owns 37,616 shares of the company’s stock worth $138,000 after acquiring an additional 11,679 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of iQIYI in the 4th quarter worth about $150,000. Institutional investors own 52.69% of the company’s stock.

Wall Street Analyst Weigh In

IQ has been the subject of a number of analyst reports. Hsbc Global Res downgraded iQIYI from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 23rd. Nomura Securities raised iQIYI to a “hold” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. lowered their price target on iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. HSBC downgraded shares of iQIYI from a “hold” rating to a “reduce” rating and cut their price objective for the stock from $4.70 to $3.00 in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group downgraded shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price for the company. in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, iQIYI has an average rating of “Hold” and a consensus price target of $3.45.

iQIYI Trading Down 4.0 %

Shares of iQIYI stock opened at $2.15 on Tuesday. The stock has a fifty day moving average price of $3.26 and a 200-day moving average price of $3.95. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.60. The firm has a market cap of $2.06 billion, a PE ratio of 7.68, a P/E/G ratio of 0.50 and a beta of 0.08. iQIYI, Inc. has a 1 year low of $2.08 and a 1 year high of $5.80.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). iQIYI had a return on equity of 14.57% and a net margin of 5.37%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the business posted $0.05 EPS. Equities research analysts anticipate that iQIYI, Inc. will post 0.16 EPS for the current 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.