Goldman Sachs Group Inc. Has $117.46 Million Stock Position in iQIYI, Inc. (NASDAQ:IQ)

Goldman Sachs Group Inc. reduced its position in shares of iQIYI, Inc. (NASDAQ:IQ) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,069,123 shares of the company’s stock after selling 2,194,106 shares during the quarter. Goldman Sachs Group Inc.’s holdings in iQIYI were worth $117,457,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Krane Funds Advisors LLC raised its stake in shares of iQIYI by 2.5% in the fourth quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock worth $93,669,000 after purchasing an additional 467,032 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of iQIYI by 1.6% in the third quarter. Vanguard Group Inc. now owns 17,586,474 shares of the company’s stock worth $83,360,000 after purchasing an additional 269,491 shares during the last quarter. SCEP Management Ltd raised its stake in shares of iQIYI by 22.3% in the third quarter. SCEP Management Ltd now owns 15,000,000 shares of the company’s stock worth $71,100,000 after purchasing an additional 2,731,681 shares during the last quarter. Federated Hermes Inc. grew its holdings 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 valued at $59,308,000 after acquiring an additional 1,549,805 shares in the last quarter. Finally, Norges Bank bought a new position in shares of iQIYI in the fourth quarter valued at approximately $49,853,000. 52.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IQ has been the subject of several recent analyst reports. Benchmark reaffirmed a “buy” rating and issued a $9.00 target price on shares of iQIYI in a report on Friday, May 17th. OTR Global reaffirmed a “mixed” rating on shares of iQIYI in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.18.

iQIYI Stock Performance

NASDAQ IQ traded up $0.03 on Friday, hitting $4.13. 24,653,085 shares of the stock traded hands, compared to its average volume of 9,293,525. The business’s fifty day moving average is $4.65 and its two-hundred day moving average is $4.28. iQIYI, Inc. has a 12 month low of $3.06 and a 12 month high of $6.47. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.30 and a beta of 0.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.60 and a current ratio of 0.60.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Thursday, May 16th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. iQIYI had a return on equity of 17.57% and a net margin of 6.23%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. As a group, equities analysts anticipate that iQIYI, Inc. will post 0.38 EPS for the current fiscal 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.