iQIYI, Inc. (NASDAQ:IQ) Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its stake in shares of iQIYI, Inc. (NASDAQ:IQ) by 36.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 946,984 shares of the company’s stock after acquiring an additional 251,813 shares during the period. American Century Companies Inc.’s holdings in iQIYI were worth $3,475,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of IQ. Prudential PLC boosted its position in shares of iQIYI by 19.8% in the second quarter. Prudential PLC now owns 176,455 shares of the company’s stock worth $648,000 after buying an additional 29,148 shares during the period. RWC Asset Management LLP boosted its position in shares of iQIYI by 74.5% in the second quarter. RWC Asset Management LLP now owns 224,124 shares of the company’s stock worth $823,000 after buying an additional 95,664 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of iQIYI by 59.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock worth $81,000 after buying an additional 8,225 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of iQIYI in the second quarter worth $133,000. Finally, AustralianSuper Pty Ltd acquired a new stake in shares of iQIYI in the second quarter worth $245,000. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Price Performance

Shares of NASDAQ:IQ opened at $2.68 on Friday. iQIYI, Inc. has a fifty-two week low of $1.92 and a fifty-two week high of $5.80. The business has a 50-day moving average of $2.66 and a two-hundred day moving average of $3.75. The stock has a market capitalization of $2.57 billion, a P/E ratio of 9.57, a P/E/G ratio of 0.49 and a beta of 0.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings results 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 return on equity of 14.57% and a net margin of 5.37%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm earned $0.05 EPS. On average, equities research analysts predict that iQIYI, Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Benchmark cut iQIYI from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. HSBC cut iQIYI from a “hold” rating to a “reduce” rating and reduced their price objective for the company from $4.70 to $3.00 in a research report on Tuesday, July 23rd. Hsbc Global Res cut iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective for the company. in a research report on Tuesday, August 27th. Finally, Nomura Securities raised iQIYI to a “hold” rating in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.45.

iQIYI 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.