Swiss National Bank Trims Position in IQIYI Inc (NASDAQ:IQ)

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Swiss National Bank cut its position in IQIYI Inc (NASDAQ:IQ) by 6.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 319,185 shares of the company’s stock after selling 21,934 shares during the period. Swiss National Bank’s holdings in IQIYI were worth $6,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in shares of IQIYI in the 4th quarter valued at about $464,000. Northern Trust Corp acquired a new position in shares of IQIYI during the 4th quarter valued at about $158,000. Geode Capital Management LLC boosted its position in shares of IQIYI by 35.2% during the 4th quarter. Geode Capital Management LLC now owns 116,168 shares of the company’s stock valued at $1,727,000 after acquiring an additional 30,230 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of IQIYI during the 1st quarter valued at about $240,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in IQIYI in the first quarter valued at about $414,000. 20.24% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on IQ shares. Jefferies Financial Group started coverage on IQIYI in a research report on Monday, August 5th. They issued a “buy” rating and a $21.80 price target for the company. Zacks Investment Research cut IQIYI from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. KeyCorp started coverage on IQIYI in a research note on Monday, July 29th. They issued a “sector weight” rating and a $21.00 target price for the company. China Renaissance Securities reissued a “hold” rating on shares of IQIYI in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. assumed coverage on IQIYI in a research report on Friday, August 16th. They issued an “underweight” rating and a $14.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $21.40.

IQ stock opened at $17.06 on Wednesday. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of -6.91 and a beta of 2.99. IQIYI Inc has a fifty-two week low of $14.35 and a fifty-two week high of $32.46. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 1.16. The company’s 50 day moving average price is $18.21 and its 200 day moving average price is $21.09.

IQIYI (NASDAQ:IQ) last released its quarterly earnings results on Monday, August 19th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.10. The business had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.05 billion. IQIYI had a negative return on equity of 60.21% and a negative net margin of 38.28%. The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.45) EPS. Equities analysts forecast that IQIYI Inc will post -1.91 EPS for the current fiscal year.

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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