Krane Funds Advisors LLC Increases Stock Position in iQIYI, Inc. (NASDAQ:IQ)

Krane Funds Advisors LLC increased its stake in shares of iQIYI, Inc. (NASDAQ:IQ) by 82.1% in the 4th quarter, Holdings Channel reports. The firm owned 21,763,769 shares of the company’s stock after buying an additional 9,809,187 shares during the period. iQIYI accounts for approximately 1.8% of Krane Funds Advisors LLC’s holdings, making the stock its 13th biggest position. Krane Funds Advisors LLC’s holdings in iQIYI were worth $43,745,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its position 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 worth $48,959,000 after purchasing an additional 1,114,390 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new position in shares of iQIYI in the third quarter worth approximately $835,000. Y Intercept Hong Kong Ltd bought a new stake in iQIYI during the fourth quarter valued at approximately $468,000. Harvest Fund Management Co. Ltd grew its holdings in iQIYI by 13.9% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,228,223 shares of the company’s stock valued at $6,489,000 after purchasing an additional 393,834 shares during the period. Finally, E Fund Management Co. Ltd. increased its position in iQIYI by 39.6% in the fourth quarter. E Fund Management Co. Ltd. now owns 2,667,758 shares of the company’s stock worth $5,362,000 after buying an additional 756,552 shares in the last quarter. Institutional investors own 52.69% of the company’s stock.

iQIYI Stock Down 13.4 %

Shares of NASDAQ:IQ opened at $1.81 on Monday. The company has a 50-day moving average price of $2.27 and a 200 day moving average price of $2.28. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70. iQIYI, Inc. has a 12 month low of $1.67 and a 12 month high of $5.80. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 4.13 and a beta of -0.18.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $919.56 million during 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%. As a group, equities research analysts predict that iQIYI, Inc. will post 0.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on IQ shares. OTR Global restated a “negative” rating on shares of iQIYI in a research note on Wednesday, January 8th. HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective on the stock in a research report on Thursday, January 16th. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 16th. Benchmark reissued a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. Finally, Citigroup dropped their price target on iQIYI from $3.00 to $2.80 and set a “buy” rating 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 given a buy rating to the company. According to data from MarketBeat, iQIYI presently has a consensus rating of “Hold” and a consensus target price of $2.91.

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.