Seven Eight Capital LP Buys New Holdings in iQIYI, Inc. (NASDAQ:IQ)

Seven Eight Capital LP bought a new stake in iQIYI, Inc. (NASDAQ:IQ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,356 shares of the company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC acquired a new stake in iQIYI during the second quarter worth approximately $46,000. Ballentine Partners LLC raised its holdings in iQIYI by 65.0% during the first quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock worth $77,000 after purchasing an additional 7,219 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in iQIYI by 59.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock worth $81,000 after purchasing an additional 8,225 shares in the last quarter. Jump Financial LLC acquired a new stake in iQIYI during the fourth quarter worth approximately $114,000. Finally, Principal Financial Group Inc. acquired a new stake in iQIYI during the second quarter worth approximately $133,000. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Stock Performance

NASDAQ:IQ opened at $2.14 on Tuesday. The firm’s fifty day moving average price is $2.73 and its 200 day moving average price is $3.78. iQIYI, Inc. has a 1-year low of $1.92 and a 1-year high of $5.80. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 7.64, a price-to-earnings-growth ratio of 0.46 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). iQIYI had a net margin of 5.37% and a return on equity of 14.57%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the business earned $0.05 earnings per share. On average, sell-side analysts expect that iQIYI, Inc. will post 0.16 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on IQ. HSBC cut shares of iQIYI from a “hold” rating to a “reduce” rating and cut their price objective for the stock from $4.70 to $3.00 in a report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their target price on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Nomura Securities raised shares of iQIYI to a “hold” rating in a report on Monday, August 26th. Hsbc Global Res cut shares of iQIYI from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 23rd. Finally, Benchmark cut shares of iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.45.

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.