Bank of New York Mellon Corp Has $3.06 Million Holdings in iQIYI, Inc. (NASDAQ:IQ)

Bank of New York Mellon Corp grew its position in shares of iQIYI, Inc. (NASDAQ:IQ) by 15.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 834,542 shares of the company’s stock after purchasing an additional 109,128 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.09% of iQIYI worth $3,063,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in IQ. Ballentine Partners LLC boosted its position in iQIYI by 65.0% in the first quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock worth $77,000 after purchasing an additional 7,219 shares during the last quarter. Jump Financial LLC purchased a new position in shares of iQIYI in the 4th quarter worth about $114,000. DNB Asset Management AS boosted its holdings in iQIYI by 45.0% during the 2nd quarter. DNB Asset Management AS now owns 37,616 shares of the company’s stock valued at $138,000 after acquiring an additional 11,679 shares during the period. Aigen Investment Management LP purchased a new stake in iQIYI during the 4th quarter valued at about $150,000. Finally, Sei Investments Co. boosted its holdings in iQIYI by 23.1% during the 1st quarter. Sei Investments Co. now owns 101,928 shares of the company’s stock valued at $431,000 after acquiring an additional 19,100 shares during the period. 52.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IQ. Hsbc Global Res cut iQIYI from a “hold” rating to a “moderate sell” rating 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. JPMorgan Chase & Co. reduced their target price on iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. HSBC downgraded 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. Finally, Nomura Securities upgraded iQIYI to a “hold” rating in a research note on Monday, August 26th. One investment 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, iQIYI has an average rating of “Hold” and a consensus target price of $3.45.

iQIYI Stock Performance

Shares of iQIYI stock opened at $1.97 on Monday. The stock’s fifty day moving average is $2.95 and its two-hundred day moving average is $3.85. The company has a market capitalization of $1.89 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 0.46 and a beta of 0.05. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. iQIYI, Inc. has a 52 week low of $1.93 and a 52 week high of $5.80.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 EPS 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 during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company earned $0.05 EPS. As a group, analysts expect that iQIYI, Inc. will post 0.16 earnings per share for the current year.

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.