Pictet Asset Management Holding SA Has $562,000 Stake in iQIYI, Inc. (NASDAQ:IQ)

Pictet Asset Management Holding SA reduced its holdings in iQIYI, Inc. (NASDAQ:IQ) by 48.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,600 shares of the company’s stock after selling 262,800 shares during the quarter. Pictet Asset Management Holding SA’s holdings in iQIYI were worth $562,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in iQIYI during the 4th quarter worth about $3,914,000. IvyRock Asset Management HK Ltd grew its stake in shares of iQIYI by 20.0% during the fourth quarter. IvyRock Asset Management HK Ltd now owns 60,000 shares of the company’s stock valued at $121,000 after purchasing an additional 10,000 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of iQIYI by 263.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 283,532 shares of the company’s stock valued at $570,000 after purchasing an additional 205,470 shares in the last quarter. Vanguard Group Inc. raised its position in iQIYI by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 18,293,085 shares of the company’s stock worth $36,769,000 after purchasing an additional 502,154 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in iQIYI by 5.6% during the 4th quarter. American Century Companies Inc. now owns 1,904,565 shares of the company’s stock worth $3,828,000 after buying an additional 101,241 shares in the last quarter. 52.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IQ has been the topic of several recent research reports. Citigroup reduced their target price on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Hsbc Global Res raised shares of iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. Benchmark reissued a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a research note on Wednesday, January 8th. Finally, HSBC raised iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 target price on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2.91.

iQIYI Trading Down 12.1 %

NASDAQ IQ opened at $1.53 on Wednesday. iQIYI, Inc. has a one year low of $1.52 and a one year high of $5.80. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45. The firm has a market cap of $1.47 billion, a P/E ratio of 15.30, a P/E/G ratio of 4.13 and a beta of -0.18. The stock’s 50-day moving average is $2.23 and its 200-day moving average is $2.27.

iQIYI (NASDAQ:IQ) last announced 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 firm had revenue of $919.56 million for the quarter, compared to analyst estimates of $6.62 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. Sell-side analysts anticipate that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

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.