Centiva Capital LP Sells 33,809 Shares of iQIYI, Inc. (NASDAQ:IQ)

Centiva Capital LP lessened its position in iQIYI, Inc. (NASDAQ:IQ) by 61.0% in the 3rd quarter, Holdings Channel reports. The firm owned 21,598 shares of the company’s stock after selling 33,809 shares during the period. Centiva Capital LP’s holdings in iQIYI were worth $62,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of iQIYI during the second quarter worth about $31,000. Ground Swell Capital LLC bought a new position in iQIYI during the 3rd quarter worth about $32,000. Flow Traders U.S. LLC bought a new position in shares of iQIYI during the third quarter worth about $32,000. Seven Eight Capital LP acquired a new stake in shares of iQIYI in the second quarter valued at approximately $42,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in iQIYI during the 2nd quarter worth about $46,000. 52.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

iQIYI Stock Performance

iQIYI stock opened at $2.27 on Friday. The stock has a market cap of $2.18 billion, a PE ratio of 11.35, a P/E/G ratio of 0.60 and a beta of 0.02. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. iQIYI, Inc. has a 12-month low of $1.89 and a 12-month high of $5.80. The business’s 50-day moving average price is $2.37 and its two-hundred day moving average price is $2.94.

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.