Bridgewater Associates LP Sells 18,901 Shares of iQIYI, Inc. (NASDAQ:IQ)

Bridgewater Associates LP reduced its stake in iQIYI, Inc. (NASDAQ:IQ) by 3.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 464,660 shares of the company’s stock after selling 18,901 shares during the quarter. Bridgewater Associates LP’s holdings in iQIYI were worth $1,329,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ bought a new stake in iQIYI during the 2nd quarter worth about $31,000. Ground Swell Capital LLC acquired a new position in shares of iQIYI during the 3rd quarter worth about $32,000. Seven Eight Capital LP acquired a new position in shares of iQIYI during the 2nd quarter worth about $42,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of iQIYI during the 2nd quarter worth about $46,000. Finally, One Wealth Management Investment & Advisory Services LLC acquired a new position in shares of iQIYI during the 3rd quarter worth about $72,000. 52.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IQ has been the topic of several recent analyst reports. Benchmark restated a “hold” rating on shares of iQIYI in a research note on Friday, November 22nd. Nomura Securities upgraded shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. lowered their price objective on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group lowered shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target on the stock. in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.15.

iQIYI Stock Up 0.5 %

Shares of IQ opened at $2.16 on Monday. iQIYI, Inc. has a 52 week low of $1.89 and a 52 week high of $5.80. The firm has a market cap of $2.07 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 0.58 and a beta of 0.08. The firm’s 50-day simple moving average is $2.47 and its 200 day simple moving average is $3.10. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45.

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.