CIBC World Markets Inc. Invests $268,000 in IQIYI Inc (NASDAQ:IQ)

CIBC World Markets Inc. bought a new stake in IQIYI Inc (NASDAQ:IQ) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,201 shares of the company’s stock, valued at approximately $268,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. HighPoint Advisor Group LLC increased its stake in IQIYI by 5.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 11,561 shares of the company’s stock valued at $258,000 after acquiring an additional 561 shares during the last quarter. Joseph P. Lucia & Associates LLC bought a new position in IQIYI during the 1st quarter valued at about $25,000. National Asset Management Inc. lifted its position in shares of IQIYI by 5.3% in the 1st quarter. National Asset Management Inc. now owns 15,868 shares of the company’s stock worth $380,000 after purchasing an additional 794 shares during the period. TrinityPoint Wealth LLC increased its stake in shares of IQIYI by 8.0% in the first quarter. TrinityPoint Wealth LLC now owns 14,120 shares of the company’s stock worth $338,000 after acquiring an additional 1,045 shares during the period. Finally, Advisory Services Network LLC lifted its holdings in IQIYI by 46.9% during the fourth quarter. Advisory Services Network LLC now owns 3,400 shares of the company’s stock valued at $51,000 after purchasing an additional 1,085 shares in the last quarter. 19.65% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on IQ shares. Zacks Investment Research upgraded IQIYI from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Tuesday, May 28th. HSBC dropped their price target on shares of IQIYI from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Tuesday, April 2nd. Loop Capital started coverage on shares of IQIYI in a research note on Monday, June 3rd. They issued a “hold” rating and a $20.00 price target on the stock. Tigress Financial initiated coverage on shares of IQIYI in a research note on Friday, March 15th. They issued a “buy” rating for the company. Finally, New Street Research upgraded shares of IQIYI from a “neutral” rating to a “buy” rating in a research report on Friday, February 22nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $27.14.



Shares of IQ opened at $18.31 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.73. IQIYI Inc has a 12-month low of $14.35 and a 12-month high of $46.23. The firm has a market cap of $13.33 billion, a PE ratio of -7.41 and a beta of 3.19.

IQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Thursday, May 16th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.17. IQIYI had a negative return on equity of 52.01% and a negative net margin of 38.72%. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.89 billion. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. The firm’s revenue for the quarter was up 43.0% compared to the same quarter last year. Research analysts anticipate that IQIYI Inc will post -1.38 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “CIBC World Markets Inc. Invests $268,000 in IQIYI Inc (NASDAQ:IQ)” was first published by Dakota Financial News and is owned by of Dakota Financial News. If you are reading this news story on another website, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The legal version of this news story can be read at https://dakotafinancialnews.com/2019/06/12/cibc-world-markets-inc-invests-268000-in-iqiyi-inc-nasdaqiq.html.

IQIYI Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

See Also: Understanding the different types of bonds

Want to see what other hedge funds are holding IQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IQIYI Inc (NASDAQ:IQ).

Institutional Ownership by Quarter for IQIYI (NASDAQ:IQ)

Receive News & Ratings for IQIYI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IQIYI and related companies with MarketBeat.com's FREE daily email newsletter.