Corient Private Wealth LLC Buys 7,645 Shares of iQIYI, Inc. (NASDAQ:IQ)

Corient Private Wealth LLC boosted its stake in iQIYI, Inc. (NASDAQ:IQ) by 37.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 28,138 shares of the company’s stock after acquiring an additional 7,645 shares during the quarter. Corient Private Wealth LLC’s holdings in iQIYI were worth $57,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IQ. Flow Traders U.S. LLC bought a new position in shares of iQIYI during the third quarter valued at $32,000. SBI Securities Co. Ltd. bought a new position in iQIYI during the 4th quarter worth $32,000. Ballentine Partners LLC acquired a new position in iQIYI during the 4th quarter worth about $47,000. Franklin Resources Inc. lifted its holdings in iQIYI by 16.0% during the 3rd quarter. Franklin Resources Inc. now owns 173,386 shares of the company’s stock worth $496,000 after buying an additional 23,926 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of iQIYI in the third quarter valued at about $88,000. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Stock Performance

NASDAQ IQ opened at $2.19 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45. iQIYI, Inc. has a 1 year low of $1.82 and a 1 year high of $5.80. The stock has a market capitalization of $2.10 billion, a PE ratio of 21.90, a P/E/G ratio of 4.13 and a beta of -0.18. The company’s 50 day simple moving average is $2.27 and its two-hundred day simple moving average is $2.28.

iQIYI (NASDAQ:IQ) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $919.56 million for the quarter, compared to the consensus estimate of $6.62 billion. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. Analysts predict that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on IQ shares. Hsbc Global Res upgraded shares of iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Wednesday, February 19th. HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target on the stock in a report on Thursday, January 16th. Finally, Citigroup reduced their price target 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. 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. According to data from MarketBeat, iQIYI presently has a consensus rating of “Hold” and an average target price of $2.91.

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.