Axa S.A. Invests $2.30 Million in iQIYI, Inc. (NASDAQ:IQ)

Axa S.A. purchased a new position in shares of iQIYI, Inc. (NASDAQ:IQ) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 627,667 shares of the company’s stock, valued at approximately $2,304,000. Axa S.A. owned about 0.07% of iQIYI at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of IQ. Squarepoint Ops LLC boosted its stake in shares of iQIYI by 9.3% in the second quarter. Squarepoint Ops LLC now owns 554,627 shares of the company’s stock valued at $2,035,000 after buying an additional 47,007 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in iQIYI by 6.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,200 shares of the company’s stock valued at $687,000 after acquiring an additional 10,700 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of iQIYI by 8.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 160,632 shares of the company’s stock valued at $590,000 after acquiring an additional 12,300 shares during the period. Sei Investments Co. grew its stake in iQIYI by 10.1% during the second quarter. Sei Investments Co. now owns 112,270 shares of the company’s stock worth $412,000 after buying an additional 10,342 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in iQIYI in the 2nd quarter valued at about $31,000. 52.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IQ shares. Nomura Securities upgraded iQIYI to a “hold” rating in a research note on Monday, August 26th. Benchmark lowered shares of iQIYI from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Hsbc Global Res downgraded iQIYI from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 23rd. HSBC cut iQIYI from a “hold” rating to a “reduce” rating and lowered their target price for the stock from $4.70 to $3.00 in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. cut their price target on iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.45.

iQIYI Price Performance

IQ stock opened at $2.86 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 0.49 and a beta of 0.05. The company’s fifty day simple moving average is $2.64 and its 200 day simple moving average is $3.74. iQIYI, Inc. has a 12-month low of $1.92 and a 12-month high of $5.80.

iQIYI (NASDAQ:IQ) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company earned $0.05 EPS. On average, analysts expect that iQIYI, Inc. will post 0.16 earnings per share for the current year.

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.