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.

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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.

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Institutional Ownership by Quarter for IQIYI (NASDAQ:IQ)

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