Geode Capital Management LLC Purchases 112,709 Shares of iQIYI, Inc. (NASDAQ:IQ)

Geode Capital Management LLC increased its position in shares of iQIYI, Inc. (NASDAQ:IQ) by 3.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,259,673 shares of the company’s stock after acquiring an additional 112,709 shares during the period. Geode Capital Management LLC owned approximately 0.34% of iQIYI worth $9,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in iQIYI by 15.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 834,542 shares of the company’s stock worth $3,063,000 after acquiring an additional 109,128 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of iQIYI in the second quarter worth approximately $133,000. Prudential PLC raised its stake in iQIYI by 19.8% in the second quarter. Prudential PLC now owns 176,455 shares of the company’s stock valued at $648,000 after purchasing an additional 29,148 shares in the last quarter. American Century Companies Inc. lifted its position in iQIYI by 36.2% during the second quarter. American Century Companies Inc. now owns 946,984 shares of the company’s stock valued at $3,475,000 after purchasing an additional 251,813 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in iQIYI by 18.9% in the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock worth $58,929,000 after buying an additional 2,549,287 shares in the last quarter. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

iQIYI Price Performance

Shares of NASDAQ:IQ opened at $2.01 on Thursday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.93 billion, a PE ratio of 10.05, a PEG ratio of 0.58 and a beta of 0.02. The company’s fifty day moving average is $2.25 and its 200 day moving average is $2.72. iQIYI, Inc. has a 52 week low of $1.89 and a 52 week high of $5.80.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IQ. JPMorgan Chase & Co. lowered their price objective on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Benchmark restated a “hold” rating on shares of iQIYI in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.15.

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.