Harvest Fund Management Co. Ltd Has $6.49 Million Holdings in iQIYI, Inc. (NASDAQ:IQ)

Harvest Fund Management Co. Ltd grew its holdings in iQIYI, Inc. (NASDAQ:IQ) by 13.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,228,223 shares of the company’s stock after purchasing an additional 393,834 shares during the period. Harvest Fund Management Co. Ltd owned about 0.34% of iQIYI worth $6,489,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IQ. Corient Private Wealth LLC grew its stake in shares of iQIYI by 37.3% in the fourth quarter. Corient Private Wealth LLC now owns 28,138 shares of the company’s stock valued at $57,000 after buying an additional 7,645 shares in the last quarter. Flow Traders U.S. LLC bought a new position in shares of iQIYI in the third quarter valued at $32,000. SBI Securities Co. Ltd. bought a new position in shares of iQIYI in the fourth quarter valued at $32,000. PDS Planning Inc bought a new position in shares of iQIYI in the fourth quarter valued at $35,000. Finally, Ballentine Partners LLC bought a new position in shares of iQIYI in the fourth quarter valued at $47,000. 52.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IQ shares. Hsbc Global Res raised shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research report on Wednesday, February 19th. HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective for the company in a research report on Thursday, January 16th. Citigroup reduced their price objective on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, OTR Global reaffirmed a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, iQIYI currently has an average rating of “Hold” and an average target price of $2.91.

iQIYI Price Performance

IQ opened at $2.49 on Wednesday. iQIYI, Inc. has a fifty-two week low of $1.82 and a fifty-two week high of $5.80. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44. The company has a market capitalization of $2.39 billion, a P/E ratio of 24.90, a P/E/G ratio of 4.13 and a beta of 0.05. The stock has a fifty day moving average of $2.19 and a 200-day moving average of $2.26.

iQIYI (NASDAQ:IQ) last posted its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. The company had revenue of $919.56 million during the quarter, compared to the consensus estimate of $6.62 billion. On average, equities analysts expect that iQIYI, Inc. will post 0.04 EPS 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.