Exchange Traded Concepts LLC Makes New $1.56 Million Investment in iQIYI, Inc. (NASDAQ:IQ)

Exchange Traded Concepts LLC bought a new position in iQIYI, Inc. (NASDAQ:IQ) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 93,957 shares of the company’s stock, valued at approximately $1,562,000.

Several other institutional investors also recently bought and sold shares of IQ. Bank of New York Mellon Corp lifted its holdings in iQIYI by 39.9% during the 4th quarter. Bank of New York Mellon Corp now owns 620,441 shares of the company’s stock valued at $10,846,000 after purchasing an additional 176,795 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of iQIYI by 33.1% in the 4th quarter. First Trust Advisors LP now owns 73,025 shares of the company’s stock worth $1,276,000 after acquiring an additional 18,153 shares in the last quarter. Davis Selected Advisers grew its position in iQIYI by 0.8% during the 4th quarter. Davis Selected Advisers now owns 1,119,512 shares of the company’s stock worth $19,569,000 after acquiring an additional 8,918 shares during the last quarter. Mizuho Markets Americas LLC acquired a new stake in iQIYI during the 4th quarter valued at $70,264,000. Finally, Tudor Investment Corp Et Al bought a new position in iQIYI in the 4th quarter valued at $1,104,000. Institutional investors and hedge funds own 30.81% of the company’s stock.

Shares of IQ opened at $15.43 on Friday. The stock has a market cap of $12.09 billion, a P/E ratio of -9.83 and a beta of 1.06. iQIYI, Inc. has a 1 year low of $14.09 and a 1 year high of $28.97. The stock’s 50-day moving average price is $21.13 and its two-hundred day moving average price is $22.07. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.41.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings results on Wednesday, February 17th. The company reported ($2.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($1.72). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. iQIYI had a negative net margin of 26.76% and a negative return on equity of 111.91%. As a group, equities analysts forecast that iQIYI, Inc. will post -1.52 EPS for the current year.

IQ has been the topic of a number of research analyst reports. HSBC lowered shares of iQIYI from a “buy” rating to a “hold” rating and set a $21.60 price objective on the stock. in a report on Wednesday, January 13th. KeyCorp upgraded shares of iQIYI from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Monday, March 1st. Loop Capital reduced their price objective on iQIYI from $25.00 to $18.00 and set a “hold” rating on the stock in a report on Thursday, December 24th. UBS Group cut iQIYI from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 19th. Finally, National Securities reaffirmed a “buy” rating and set a $23.20 price target on shares of iQIYI in a research note on Thursday, December 24th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. iQIYI currently has an average rating of “Hold” and a consensus target price of $21.45.

iQIYI Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in the People's Republic of China. The company offers various products and services comprising internet video, online games, live broadcasting, online literature, animations, e-commerce, and social media platform.

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Institutional Ownership by Quarter for iQIYI (NASDAQ:IQ)

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