AustralianSuper Pty Ltd Invests $245,000 in iQIYI, Inc. (NASDAQ:IQ)

AustralianSuper Pty Ltd bought a new stake in shares of iQIYI, Inc. (NASDAQ:IQ) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 66,881 shares of the company’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC boosted its position in iQIYI by 2.5% during the 4th quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock valued at $93,669,000 after acquiring an additional 467,032 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of iQIYI by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,756,701 shares of the company’s stock valued at $86,653,000 after purchasing an additional 170,227 shares during the period. Maple Rock Capital Partners Inc. boosted its position in shares of iQIYI by 65.4% during the first quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company’s stock valued at $43,654,000 after purchasing an additional 4,080,000 shares in the last quarter. Norges Bank purchased a new stake in iQIYI in the fourth quarter worth $49,853,000. Finally, Genesis Investment Management LLP bought a new position in iQIYI in the second quarter worth $28,686,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IQ. Hsbc Global Res downgraded shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their price objective on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. The Goldman Sachs Group lowered shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price for the company. in a report on Tuesday. HSBC downgraded iQIYI from a “hold” rating to a “reduce” rating and cut their price target for the stock from $4.70 to $3.00 in a research note on Tuesday, July 23rd. Finally, Benchmark cut iQIYI from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.45.

iQIYI Stock Down 5.8 %

Shares of NASDAQ:IQ traded down $0.13 during trading on Wednesday, reaching $2.13. 5,596,369 shares of the stock traded hands, compared to its average volume of 9,207,701. The stock has a market cap of $2.04 billion, a P/E ratio of 8.07, a price-to-earnings-growth ratio of 0.42 and a beta of 0.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a 50-day moving average of $3.40 and a two-hundred day moving average of $3.99. iQIYI, Inc. has a 52-week low of $2.13 and a 52-week high of $5.80.

iQIYI (NASDAQ:IQ) last issued its earnings results on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). iQIYI had a net margin of 6.23% and a return on equity of 17.57%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business posted $0.05 earnings per share. As a group, sell-side analysts expect that iQIYI, Inc. will post 0.28 earnings per share for the current fiscal year.

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.