Monolith Management Ltd Makes New Investment in iQIYI, Inc. (NASDAQ:IQ)

Monolith Management Ltd bought a new stake in shares of iQIYI, Inc. (NASDAQ:IQ) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,600,000 shares of the company’s stock, valued at approximately $4,576,000. iQIYI comprises approximately 2.7% of Monolith Management Ltd’s investment portfolio, making the stock its 11th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in IQ. Genesis Investment Management LLP grew its stake in iQIYI by 112.1% during the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after buying an additional 8,765,711 shares during the last quarter. Quarry LP acquired a new position in shares of iQIYI during the second quarter valued at $18,075,000. Federated Hermes Inc. grew its position in shares of iQIYI by 18.9% during the second quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock worth $58,929,000 after acquiring an additional 2,549,287 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of iQIYI by 185.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock worth $7,803,000 after acquiring an additional 1,381,265 shares during the period. Finally, SG Americas Securities LLC lifted its position in iQIYI by 8,351.7% in the 3rd quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock valued at $2,875,000 after purchasing an additional 993,355 shares during the last quarter. 52.69% of the stock is currently owned by institutional investors and hedge funds.

iQIYI Trading Down 3.5 %

iQIYI stock opened at $1.95 on Monday. iQIYI, Inc. has a 1 year low of $1.92 and a 1 year high of $5.80. The firm’s 50 day moving average price is $2.47 and its two-hundred day moving average price is $3.21. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 0.53 and a beta of 0.08. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45.

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). The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. iQIYI had a net margin of 4.69% and a return on equity of 13.26%. During the same period in the prior year, the company earned $0.05 earnings per share. On average, research analysts predict that iQIYI, Inc. will post 0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

IQ has been the subject of several recent analyst reports. Nomura Securities raised iQIYI to a “hold” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. lowered their price objective on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Friday. Finally, The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target on the stock. in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, iQIYI presently has a consensus rating of “Hold” and a consensus target price of $3.15.

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.