Public Employees Retirement Association of Colorado Makes New $135,000 Investment in iQIYI, Inc. (NASDAQ:IQ)

Public Employees Retirement Association of Colorado bought a new stake in iQIYI, Inc. (NASDAQ:IQ) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 36,900 shares of the company’s stock, valued at approximately $135,000.

Several other hedge funds have also modified their holdings of IQ. Krane Funds Advisors LLC raised its holdings in iQIYI by 2.5% in the fourth quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock valued at $93,669,000 after acquiring an additional 467,032 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of iQIYI during the first quarter worth about $741,000. American Century Companies Inc. grew its stake in iQIYI by 36.2% in the second quarter. American Century Companies Inc. now owns 946,984 shares of the company’s stock worth $3,475,000 after purchasing an additional 251,813 shares in the last quarter. DNB Asset Management AS grew its stake in iQIYI by 45.0% in the second quarter. DNB Asset Management AS now owns 37,616 shares of the company’s stock worth $138,000 after purchasing an additional 11,679 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in iQIYI by 206.5% during the first quarter. Lazard Asset Management LLC now owns 1,137,614 shares of the company’s stock valued at $4,812,000 after buying an additional 766,436 shares in the last quarter. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

iQIYI Stock Up 5.6 %

IQ stock opened at $2.83 on Monday. The company’s 50 day simple moving average is $2.64 and its 200-day simple moving average is $3.74. iQIYI, Inc. has a 52-week low of $1.92 and a 52-week 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 capitalization of $2.72 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.49 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). iQIYI had a net margin of 5.37% and a return on equity of 14.57%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the firm posted $0.05 earnings per share. As a group, equities research analysts anticipate that iQIYI, Inc. will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

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