APG Asset Management N.V. Sells 51,748 Shares of iQIYI, Inc. (NASDAQ:IQ)

APG Asset Management N.V. lowered its holdings in shares of iQIYI, Inc. (NASDAQ:IQ) by 39.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 79,958 shares of the company’s stock after selling 51,748 shares during the period. APG Asset Management N.V.’s holdings in iQIYI were worth $274,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Krane Funds Advisors LLC increased its stake in iQIYI by 2.5% in the 4th quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock worth $93,669,000 after purchasing an additional 467,032 shares during the period. Vanguard Group Inc. increased its stake in shares of iQIYI by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,756,701 shares of the company’s stock worth $86,653,000 after buying an additional 170,227 shares during the period. Federated Hermes Inc. increased its stake in shares of iQIYI by 18.9% in the second quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock worth $58,929,000 after buying an additional 2,549,287 shares during the period. Maple Rock Capital Partners Inc. raised its holdings in iQIYI by 65.4% during the 1st quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company’s stock valued at $43,654,000 after buying an additional 4,080,000 shares during the last quarter. Finally, Genesis Investment Management LLP purchased a new stake in iQIYI during the 2nd quarter valued at $28,686,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Nomura Securities raised iQIYI to a “hold” rating in a research report on Monday, August 26th. Benchmark lowered iQIYI from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price on the stock. in a research note on Tuesday, August 27th. Finally, HSBC lowered iQIYI from a “hold” rating to a “reduce” rating and dropped their price target for the stock from $4.70 to $3.00 in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, iQIYI has a consensus rating of “Hold” and a consensus price target of $3.45.

iQIYI Stock Up 5.2 %

IQ stock opened at $3.01 on Wednesday. iQIYI, Inc. has a fifty-two week low of $1.92 and a fifty-two week high of $5.80. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 0.49 and a beta of 0.05. The business’s 50 day moving average price is $2.63 and its two-hundred day moving average price is $3.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.53.

iQIYI (NASDAQ:IQ) last issued 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). The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. iQIYI had a return on equity of 14.57% and a net margin of 5.37%. During the same period in the previous year, the company earned $0.05 earnings per share. As a group, analysts forecast that iQIYI, Inc. will post 0.16 earnings per share for the current fiscal year.

About iQIYI

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.