Geode Capital Management LLC Purchases 112,709 Shares of iQIYI, Inc. (NASDAQ:IQ)

Geode Capital Management LLC raised its position in shares of iQIYI, Inc. (NASDAQ:IQ) by 3.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,259,673 shares of the company’s stock after purchasing an additional 112,709 shares during the quarter. Geode Capital Management LLC’s holdings in iQIYI were worth $9,256,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in IQ. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of iQIYI during the second quarter worth about $31,000. Ground Swell Capital LLC purchased a new position in iQIYI during the 3rd quarter valued at about $32,000. Flow Traders U.S. LLC bought a new position in iQIYI during the 3rd quarter valued at approximately $32,000. Seven Eight Capital LP purchased a new stake in iQIYI in the 2nd quarter worth approximately $42,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of iQIYI in the 2nd quarter worth approximately $46,000. Institutional investors own 52.69% of the company’s stock.

Analyst Ratings Changes

IQ has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price 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 report on Friday, November 22nd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.15.

iQIYI Trading Down 0.5 %

NASDAQ IQ opened at $2.01 on Thursday. The stock’s 50 day moving average is $2.25 and its 200 day moving average is $2.72. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1.93 billion, a PE ratio of 10.05, a P/E/G ratio of 0.58 and a beta of 0.02. iQIYI, Inc. has a twelve month low of $1.89 and a twelve month high of $5.80.

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.