IvyRock Asset Management HK Ltd Increases Stock Holdings in iQIYI, Inc. (NASDAQ:IQ)

IvyRock Asset Management HK Ltd lifted its stake in shares of iQIYI, Inc. (NASDAQ:IQ) by 20.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,000 shares of the company’s stock after buying an additional 10,000 shares during the quarter. iQIYI comprises about 0.1% of IvyRock Asset Management HK Ltd’s holdings, making the stock its 21st biggest holding. IvyRock Asset Management HK Ltd’s holdings in iQIYI were worth $121,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its stake in iQIYI by 181.1% in the third quarter. Principal Financial Group Inc. now owns 101,500 shares of the company’s stock valued at $290,000 after acquiring an additional 65,396 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of iQIYI by 127.2% in the third quarter. GSA Capital Partners LLP now owns 66,789 shares of the company’s stock valued at $191,000 after acquiring an additional 37,396 shares during the period. Monolith Management Ltd acquired a new position in shares of iQIYI in the 3rd quarter valued at $4,576,000. FMR LLC increased its stake in iQIYI by 738.1% in the third quarter. FMR LLC now owns 137,793 shares of the company’s stock valued at $394,000 after purchasing an additional 121,352 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of iQIYI by 77.1% in the third quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company’s stock valued at $5,354,000 after buying an additional 815,226 shares during the last quarter. Hedge funds and other institutional investors own 52.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. HSBC raised iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target on the stock in a report on Thursday, January 16th. Benchmark restated a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. OTR Global reiterated a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. 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, Citigroup lowered their target price on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.91.

iQIYI Stock Performance

Shares of IQ opened at $2.20 on Tuesday. The company has a 50-day moving average of $2.23 and a two-hundred day moving average of $2.27. The stock has a market cap of $2.11 billion, a P/E ratio of 22.00, a PEG ratio of 4.13 and a beta of 0.05. iQIYI, Inc. has a 12-month low of $1.82 and a 12-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.

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

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.