Sylebra HK Co Ltd bought a new stake in iQIYI, Inc (NASDAQ:IQ) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 300,000 shares of the company’s stock, valued at approximately $4,665,000. iQIYI comprises approximately 0.4% of Sylebra HK Co Ltd’s investment portfolio, making the stock its 17th largest position.
Several other hedge funds have also recently made changes to their positions in IQ. Wells Fargo & Company MN purchased a new stake in shares of iQIYI in the first quarter valued at about $50,067,000. Ariose Capital Management Ltd purchased a new stake in shares of iQIYI in the first quarter valued at about $1,555,000. Global Thematic Partners LLC purchased a new stake in iQIYI during the first quarter worth about $1,555,000. Tiger Pacific Capital LP purchased a new stake in iQIYI during the first quarter worth about $778,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in iQIYI during the first quarter worth about $9,341,000. Institutional investors own 11.19% of the company’s stock.
A number of analysts recently issued reports on the stock. Bank of America assumed coverage on shares of iQIYI in a report on Wednesday, April 25th. They set a “neutral” rating and a $21.00 price objective for the company. Citigroup assumed coverage on shares of iQIYI in a report on Tuesday, April 24th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Goldman Sachs Group assumed coverage on shares of iQIYI in a report on Tuesday, May 8th. They set a “buy” rating and a $23.00 price objective for the company.
iQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Thursday, April 26th. The company reported ($2.17) earnings per share (EPS) for the quarter. The company had revenue of $766.86 million for the quarter. analysts anticipate that iQIYI, Inc will post -7.8 earnings per share for the current year.
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name in China. The company operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.
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