E Fund Management Hong Kong Co. Ltd. Sells 30,000 Shares of iQIYI, Inc. (NASDAQ:IQ)

E Fund Management Hong Kong Co. Ltd. lessened its holdings in iQIYI, Inc. (NASDAQ:IQ) by 7.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 348,773 shares of the company’s stock after selling 30,000 shares during the quarter. iQIYI accounts for approximately 0.6% of E Fund Management Hong Kong Co. Ltd.’s investment portfolio, making the stock its 19th biggest holding. E Fund Management Hong Kong Co. Ltd.’s holdings in iQIYI were worth $997,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in IQ. California State Teachers Retirement System raised its position in iQIYI by 2.4% during the first quarter. California State Teachers Retirement System now owns 127,426 shares of the company’s stock worth $539,000 after acquiring an additional 2,950 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in iQIYI by 59.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock worth $81,000 after acquiring an additional 8,225 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in iQIYI during the second quarter worth $31,000. Sei Investments Co. raised its position 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 acquiring an additional 10,342 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in iQIYI by 6.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,200 shares of the company’s stock worth $687,000 after acquiring an additional 10,700 shares in the last quarter. Institutional investors own 52.69% of the company’s stock.

iQIYI Price Performance

Shares of IQ opened at $2.70 on Thursday. The firm has a market capitalization of $2.59 billion, a PE ratio of 9.64, a PEG ratio of 0.68 and a beta of 0.07. The company’s 50-day moving average is $2.42 and its 200-day moving average is $3.50. iQIYI, Inc. has a fifty-two week low of $1.92 and a fifty-two week 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.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 earnings per share 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 company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the company earned $0.05 earnings per share. Equities analysts forecast that iQIYI, Inc. will post 0.16 EPS for the current year.

Analysts Set New Price Targets

IQ has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. HSBC lowered shares of 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 report on Tuesday, July 23rd. Hsbc Global Res lowered shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group lowered shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective on the stock. in a research report on Tuesday, August 27th. Finally, Nomura Securities raised shares of iQIYI to a “hold” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, iQIYI has an average rating of “Hold” and an average target price of $3.45.

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.