Trexquant Investment LP Takes $2.88 Million Position in IQIYI Inc (NASDAQ:IQ)

Trexquant Investment LP purchased a new stake in shares of IQIYI Inc (NASDAQ:IQ) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 120,548 shares of the company’s stock, valued at approximately $2,884,000.

Other hedge funds have also modified their holdings of the company. Hillhouse Capital Management Ltd. grew its stake in IQIYI by 1,633.8% in the fourth quarter. Hillhouse Capital Management Ltd. now owns 34,313,024 shares of the company’s stock valued at $510,235,000 after purchasing an additional 32,333,917 shares in the last quarter. BlackRock Inc. grew its stake in IQIYI by 2,552.1% in the first quarter. BlackRock Inc. now owns 6,059,899 shares of the company’s stock valued at $144,952,000 after purchasing an additional 5,831,403 shares in the last quarter. Morgan Stanley grew its stake in IQIYI by 780.6% in the third quarter. Morgan Stanley now owns 4,272,978 shares of the company’s stock valued at $115,670,000 after purchasing an additional 3,787,741 shares in the last quarter. Krane Funds Advisors LLC grew its stake in IQIYI by 3.4% in the first quarter. Krane Funds Advisors LLC now owns 3,552,529 shares of the company’s stock valued at $84,976,000 after purchasing an additional 115,453 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in IQIYI by 240.9% in the fourth quarter. Bank of America Corp DE now owns 2,444,498 shares of the company’s stock valued at $36,350,000 after purchasing an additional 1,727,430 shares in the last quarter. Institutional investors and hedge funds own 19.65% of the company’s stock.

Shares of NASDAQ IQ traded down $0.21 during trading hours on Wednesday, hitting $18.10. 67,593 shares of the company’s stock were exchanged, compared to its average volume of 10,071,079. IQIYI Inc has a 1-year low of $14.35 and a 1-year high of $46.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $13.10 billion, a PE ratio of -7.28 and a beta of 3.19.



IQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Thursday, May 16th. The company reported ($0.35) earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $6.89 billion. During the same quarter in the previous year, the firm earned ($0.31) EPS. The firm’s revenue was up 43.0% compared to the same quarter last year. As a group, equities research analysts forecast that IQIYI Inc will post -1.38 EPS for the current fiscal year.

Several analysts have recently issued reports on the company. Zacks Investment Research upgraded IQIYI from a “sell” rating to a “hold” rating and set a $27.00 price target for the company in a research note on Wednesday, April 24th. Loop Capital assumed coverage on IQIYI in a research note on Monday, June 3rd. They set a “hold” rating and a $20.00 price target for the company. ValuEngine upgraded IQIYI from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. New Street Research upgraded IQIYI from a “neutral” rating to a “buy” rating in a research note on Friday, February 22nd. Finally, Tigress Financial assumed coverage on IQIYI in a research note on Friday, March 15th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $27.14.

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About IQIYI

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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