Canada Pension Plan Investment Board Boosts Stake in iQIYI, Inc. (NASDAQ:IQ)

Canada Pension Plan Investment Board lifted its stake in shares of iQIYI, Inc. (NASDAQ:IQFree Report) by 22.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,748,935 shares of the company’s stock after acquiring an additional 324,400 shares during the quarter. Canada Pension Plan Investment Board owned about 0.18% of iQIYI worth $8,290,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC increased its stake in shares of iQIYI by 92.1% during the first quarter. FMR LLC now owns 6,366 shares of the company’s stock valued at $46,000 after acquiring an additional 3,052 shares during the period. Koshinski Asset Management Inc. bought a new stake in iQIYI during the second quarter worth approximately $53,000. First Foundation Advisors bought a new stake in iQIYI during the second quarter worth approximately $53,000. Cubist Systematic Strategies LLC boosted its holdings in iQIYI by 1,404.1% during the second quarter. Cubist Systematic Strategies LLC now owns 13,101 shares of the company’s stock worth $55,000 after buying an additional 12,230 shares in the last quarter. Finally, DRW Securities LLC bought a new stake in iQIYI during the fourth quarter worth approximately $61,000. Institutional investors and hedge funds own 30.65% of the company’s stock.

iQIYI Stock Up 2.9 %

iQIYI stock opened at $3.49 on Tuesday. The company has a market capitalization of $3.30 billion, a P/E ratio of 17.45 and a beta of 0.27. The firm’s fifty day simple moving average is $4.22 and its 200-day simple moving average is $4.71. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.74. iQIYI, Inc. has a 1-year low of $3.06 and a 1-year high of $7.99.

iQIYI (NASDAQ:IQGet Free Report) last announced its earnings results on Tuesday, November 21st. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. iQIYI had a net margin of 4.26% and a return on equity of 13.39%. Sell-side analysts forecast that iQIYI, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IQ. Benchmark restated a “buy” rating and set a $9.00 target price on shares of iQIYI in a report on Wednesday, November 22nd. JPMorgan Chase & Co. lowered shares of iQIYI from an “overweight” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Wednesday, November 22nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $7.39.

Get Our Latest Research Report on IQ

iQIYI Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for iQIYI (NASDAQ:IQ)

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