iQIYI, Inc. (NASDAQ:IQ) Shares Sold by Invesco Ltd.

Invesco Ltd. cut its position in iQIYI, Inc. (NASDAQ:IQ) by 31.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 449,655 shares of the company’s stock after selling 206,753 shares during the quarter. Invesco Ltd.’s holdings in iQIYI were worth $904,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of iQIYI in the fourth quarter valued at about $32,000. PDS Planning Inc purchased a new stake in iQIYI during the 4th quarter valued at approximately $35,000. Ballentine Partners LLC acquired a new stake in iQIYI during the 4th quarter worth approximately $47,000. Corient Private Wealth LLC grew its stake in shares of iQIYI by 37.3% in the 4th quarter. Corient Private Wealth LLC now owns 28,138 shares of the company’s stock valued at $57,000 after purchasing an additional 7,645 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in shares of iQIYI in the fourth quarter valued at approximately $70,000. 52.69% of the stock is owned by institutional investors and hedge funds.

iQIYI Trading Up 1.6 %

Shares of IQ opened at $1.87 on Friday. iQIYI, Inc. has a twelve month low of $1.50 and a twelve month high of $5.80. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1.80 billion, a P/E ratio of 18.70, a PEG ratio of 4.13 and a beta of -0.18. The firm’s 50-day moving average is $2.03 and its two-hundred day moving average is $2.16.

iQIYI (NASDAQ:IQ) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $919.56 million for the quarter, compared to analysts’ expectations of $6.62 billion. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. On average, research analysts predict that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IQ has been the subject of several recent research reports. HSBC raised iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target for the company in a report on Thursday, January 16th. Benchmark restated a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. Citigroup dropped their price target on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Hsbc Global Res upgraded shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 16th. Finally, OTR Global reiterated a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.91.

About iQIYI

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.