iQIYI, Inc. (NASDAQ:IQ) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. cut its position in iQIYI, Inc. (NASDAQ:IQ) by 41.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,935,502 shares of the company’s stock after selling 1,359,057 shares during the quarter. iQIYI makes up 0.4% of E Fund Management Co. Ltd.’s investment portfolio, making the stock its 28th biggest holding. E Fund Management Co. Ltd. owned about 0.20% of iQIYI worth $7,103,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Krane Funds Advisors LLC lifted its position in iQIYI by 2.5% during the 4th quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock worth $93,669,000 after acquiring an additional 467,032 shares during the period. Vanguard Group Inc. lifted its position in iQIYI by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,756,701 shares of the company’s stock worth $86,653,000 after acquiring an additional 170,227 shares during the period. Federated Hermes Inc. lifted its position in iQIYI by 18.9% during the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock worth $58,929,000 after acquiring an additional 2,549,287 shares during the period. Maple Rock Capital Partners Inc. lifted its position in iQIYI by 65.4% during the 1st quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company’s stock worth $43,654,000 after acquiring an additional 4,080,000 shares during the period. Finally, Norges Bank acquired a new stake in iQIYI during the 4th quarter worth approximately $49,853,000. 52.69% of the stock is owned by institutional investors and hedge funds.

iQIYI Stock Performance

NASDAQ IQ opened at $2.05 on Wednesday. iQIYI, Inc. has a 1-year low of $1.92 and a 1-year high of $5.80. The company has a market capitalization of $1.97 billion, a P/E ratio of 7.32, a PEG ratio of 0.46 and a beta of 0.05. The business has a 50 day moving average price of $2.88 and a 200 day moving average price of $3.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53.

iQIYI (NASDAQ:IQ) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). iQIYI had a net margin of 5.37% and a return on equity of 14.57%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the business earned $0.05 earnings per share. Sell-side analysts expect that iQIYI, Inc. will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Nomura Securities raised iQIYI to a “hold” rating in a report on Monday, August 26th. The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target for the company. in a report on Tuesday, August 27th. Hsbc Global Res cut iQIYI from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 23rd. HSBC cut iQIYI from a “hold” rating to a “reduce” rating and reduced their price target for the company from $4.70 to $3.00 in a report on Tuesday, July 23rd. Finally, Benchmark cut iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, iQIYI presently has an average rating of “Hold” and an average target price of $3.45.

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.