iQIYI (NASDAQ:IQ) Shares Up 7.2%

Shares of iQIYI, Inc. (NASDAQ:IQ) shot up 7.2% during trading on Wednesday . The company traded as high as $3.90 and last traded at $3.89. 5,723,669 shares were traded during mid-day trading, a decline of 36% from the average session volume of 8,971,638 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IQ. Benchmark restated a “buy” rating and issued a $9.00 target price on shares of iQIYI in a research note on Friday, May 17th. OTR Global restated a “mixed” rating on shares of iQIYI in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.18.

iQIYI Trading Up 7.2 %

The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average price is $4.51 and its 200-day moving average price is $4.21. The stock has a market capitalization of $3.73 billion, a P/E ratio of 13.89, a P/E/G ratio of 0.28 and a beta of 0.07.

iQIYI (NASDAQ:IQ) last released its quarterly earnings data on Thursday, May 16th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. iQIYI had a net margin of 6.23% and a return on equity of 17.57%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. As a group, equities research analysts expect that iQIYI, Inc. will post 0.38 earnings per share for the current year.

Institutional Investors Weigh In On iQIYI

A number of hedge funds and other institutional investors have recently bought and sold shares of IQ. Norges Bank purchased a new stake in iQIYI during the fourth quarter valued at approximately $49,853,000. Maple Rock Capital Partners Inc. raised its holdings in shares of iQIYI by 65.4% during the first quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company’s stock worth $43,654,000 after purchasing an additional 4,080,000 shares during the last quarter. Invesco Ltd. raised its holdings in shares of iQIYI by 301.7% during the third quarter. Invesco Ltd. now owns 2,082,326 shares of the company’s stock worth $9,870,000 after purchasing an additional 1,564,006 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of iQIYI by 14.6% during the fourth quarter. Federated Hermes Inc. now owns 12,153,225 shares of the company’s stock worth $59,308,000 after purchasing an additional 1,549,805 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of iQIYI by 28.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,370,494 shares of the company’s stock worth $21,320,000 after purchasing an additional 966,688 shares during the last quarter. Hedge funds and other institutional investors own 52.69% of the company’s stock.

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.