iQIYI (NASDAQ:IQ) Shares Down 3.8% – Here’s What Happened

iQIYI, Inc. (NASDAQ:IQ) shares were down 3.8% during mid-day trading on Thursday . The stock traded as low as $2.40 and last traded at $2.39. Approximately 16,029,307 shares traded hands during trading, a decline of 5% from the average daily volume of 16,882,118 shares. The stock had previously closed at $2.48.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on IQ shares. Benchmark restated a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. Hsbc Global Res upgraded shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. HSBC upgraded shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective on the stock in a research note on Thursday, January 16th. Citigroup lowered their price objective on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, OTR Global reiterated a “negative” rating on shares of iQIYI in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.91.

iQIYI Stock Down 4.2 %

The company’s fifty day moving average is $2.20 and its 200-day moving average is $2.27. The company has a market capitalization of $2.28 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 4.13 and a beta of 0.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. The business had revenue of $919.56 million during the quarter, compared to analyst estimates of $6.62 billion. As a group, analysts predict that iQIYI, Inc. will post 0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. lifted its position in shares of iQIYI by 4.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company’s stock worth $48,959,000 after purchasing an additional 1,114,390 shares during the last quarter. Krane Funds Advisors LLC lifted its position in shares of iQIYI by 82.1% during the fourth quarter. Krane Funds Advisors LLC now owns 21,763,769 shares of the company’s stock worth $43,745,000 after purchasing an additional 9,809,187 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of iQIYI by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 18,293,085 shares of the company’s stock worth $36,769,000 after purchasing an additional 502,154 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of iQIYI by 41.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company’s stock valued at $22,135,000 after buying an additional 3,235,223 shares during the period. Finally, Barclays PLC increased its stake in shares of iQIYI by 78.2% during the fourth quarter. Barclays PLC now owns 3,745,666 shares of the company’s stock valued at $7,529,000 after buying an additional 1,643,387 shares during the period. 52.69% of the stock is owned by hedge funds and other institutional investors.

iQIYI Company Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.