iQIYI, Inc. (NASDAQ:IQ) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC reduced its position in iQIYI, Inc. (NASDAQ:IQ) by 5.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,954,582 shares of the company’s stock after selling 660,816 shares during the period. iQIYI accounts for about 1.2% of Krane Funds Advisors LLC’s holdings, making the stock its 14th largest holding. Krane Funds Advisors LLC’s holdings in iQIYI were worth $34,190,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of iQIYI by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,756,701 shares of the company’s stock worth $86,653,000 after buying an additional 170,227 shares in the last quarter. Ballentine Partners LLC grew its position in shares of iQIYI by 65.0% in the first quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock valued at $77,000 after purchasing an additional 7,219 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of iQIYI by 116.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 209,873 shares of the company’s stock worth $888,000 after purchasing an additional 112,748 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of iQIYI by 3.4% during the 1st quarter. BNP Paribas Financial Markets now owns 910,057 shares of the company’s stock worth $3,850,000 after purchasing an additional 30,044 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in iQIYI by 23.1% in the 1st quarter. Sei Investments Co. now owns 101,928 shares of the company’s stock valued at $431,000 after buying an additional 19,100 shares in the last quarter. 52.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target for the company. in a report on Tuesday, August 27th. Nomura Securities raised shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. Benchmark cut shares of iQIYI from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Hsbc Global Res downgraded shares of iQIYI from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.45.

iQIYI Trading Down 0.4 %

NASDAQ IQ opened at $2.41 on Tuesday. The company has a market cap of $2.31 billion, a P/E ratio of 8.61, a P/E/G ratio of 0.70 and a beta of 0.07. iQIYI, Inc. has a 12 month low of $1.92 and a 12 month high of $5.80. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53. The company has a 50-day moving average of $2.49 and a 200-day moving average of $3.58.

iQIYI (NASDAQ:IQ) last issued its quarterly 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). The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a return on equity of 14.57% and a net margin of 5.37%. During the same period last year, the company posted $0.05 EPS. As a group, equities analysts predict 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.