iQIYI (NASDAQ:IQ) Shares Down 3.8% – What’s Next?

Shares of iQIYI, Inc. (NASDAQ:IQ) dropped 3.8% during mid-day trading on Thursday . The company traded as low as $2.40 and last traded at $2.39. Approximately 16,029,307 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 16,882,118 shares. The stock had previously closed at $2.48.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price objective on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Citigroup dropped their target price on iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a report on Thursday, January 16th. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a research note on Wednesday, January 8th. Finally, HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2.91.

iQIYI Stock Performance

The stock has a 50 day moving average price of $2.22 and a two-hundred day moving average price of $2.27. 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 company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 4.13 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last announced its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company 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%. On average, analysts predict that iQIYI, Inc. will post 0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On iQIYI

Several institutional investors have recently modified their holdings of IQ. Robeco Institutional Asset Management B.V. boosted its stake in iQIYI by 4.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company’s stock valued at $48,959,000 after acquiring an additional 1,114,390 shares during the last quarter. Krane Funds Advisors LLC boosted its position in shares of iQIYI by 82.1% in the 4th quarter. Krane Funds Advisors LLC now owns 21,763,769 shares of the company’s stock worth $43,745,000 after purchasing an additional 9,809,187 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of 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. Dimensional Fund Advisors LP grew its stake in shares of iQIYI by 41.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company’s stock worth $22,135,000 after purchasing an additional 3,235,223 shares during the period. Finally, Barclays PLC increased its holdings in iQIYI by 78.2% in the fourth quarter. Barclays PLC now owns 3,745,666 shares of the company’s stock valued at $7,529,000 after purchasing an additional 1,643,387 shares during the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

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.