Natixis Buys New Shares in iQIYI, Inc. (NASDAQ:IQ)

Natixis bought a new stake in iQIYI, Inc. (NASDAQ:IQ) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 126,700 shares of the company’s stock, valued at approximately $536,000.

A number of other institutional investors have also recently bought and sold shares of IQ. Ballentine Partners LLC grew its stake in iQIYI by 65.0% during the first quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock worth $77,000 after buying an additional 7,219 shares during the period. abrdn plc grew its stake in iQIYI by 6.6% during the fourth quarter. abrdn plc now owns 127,539 shares of the company’s stock worth $622,000 after buying an additional 7,932 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in iQIYI during the fourth quarter worth approximately $61,000. Tower Research Capital LLC TRC grew its stake in iQIYI by 321.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 17,585 shares of the company’s stock worth $86,000 after buying an additional 13,417 shares during the period. Finally, DGS Capital Management LLC grew its stake in iQIYI by 111.1% during the fourth quarter. DGS Capital Management LLC now owns 26,517 shares of the company’s stock worth $129,000 after buying an additional 13,958 shares during the period. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IQ. Benchmark reiterated a “buy” rating and set a $9.00 price objective on shares of iQIYI in a research note on Friday, May 17th. Hsbc Global Res downgraded shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research note on Tuesday. OTR Global restated a “mixed” rating on shares of iQIYI in a research note on Thursday, April 4th. JPMorgan Chase & Co. decreased their target price on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, HSBC downgraded shares of iQIYI from a “hold” rating to a “reduce” rating and decreased their target price for the company from $4.70 to $3.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.03.

iQIYI Stock Down 1.6 %

IQ traded down $0.05 during trading on Friday, hitting $3.06. The company had a trading volume of 1,443,058 shares, compared to its average volume of 9,052,100. The company has a market cap of $2.94 billion, a PE ratio of 11.11, a P/E/G ratio of 0.30 and a beta of 0.07. The business has a 50-day moving average of $4.08 and a 200-day moving average of $4.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.60 and a quick ratio of 0.60. iQIYI, Inc. has a 1-year low of $3.02 and a 1-year high of $6.47.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Thursday, May 16th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.04. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. iQIYI had a net margin of 6.23% and a return on equity of 17.57%. As a group, analysts forecast that iQIYI, Inc. will post 0.38 earnings per share for the current year.

About iQIYI

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.