iQIYI (NASDAQ:IQ) Trading Down 4.6% – Time to Sell?

iQIYI, Inc. (NASDAQ:IQ) shares were down 4.6% during mid-day trading on Friday . The stock traded as low as $2.48 and last traded at $2.49. Approximately 7,523,507 shares were traded during trading, a decline of 34% from the average daily volume of 11,467,938 shares. The stock had previously closed at $2.61.

Analyst Ratings Changes

A number of brokerages recently weighed in on IQ. Hsbc Global Res cut shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group cut shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective on the stock. in a research note on Tuesday, August 27th. HSBC cut shares of iQIYI from a “hold” rating to a “reduce” rating and cut their price objective for the company from $4.70 to $3.00 in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price target on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report 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 investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, iQIYI presently has a consensus rating of “Hold” and a consensus price target of $3.45.

iQIYI Trading Down 5.4 %

The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 0.73 and a beta of 0.07. The business has a fifty day moving average price of $2.42 and a 200 day moving average price of $3.49. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a return on equity of 14.57% and a net margin of 5.37%. During the same quarter last year, the firm earned $0.05 earnings per share. On average, equities analysts expect that iQIYI, Inc. will post 0.16 EPS for the current fiscal year.

Institutional Trading of iQIYI

A number of large investors have recently bought and sold shares of IQ. Principal Financial Group Inc. grew its holdings in shares of iQIYI by 181.1% during the third quarter. Principal Financial Group Inc. now owns 101,500 shares of the company’s stock worth $290,000 after purchasing an additional 65,396 shares during the last quarter. Ground Swell Capital LLC acquired a new position in shares of iQIYI during the third quarter valued at $32,000. Vontobel Holding Ltd. lifted its stake in shares of iQIYI by 404.2% during the third quarter. Vontobel Holding Ltd. now owns 190,129 shares of the company’s stock valued at $544,000 after acquiring an additional 152,418 shares during the period. Creative Planning lifted its stake in shares of iQIYI by 31.5% during the third quarter. Creative Planning now owns 108,280 shares of the company’s stock valued at $310,000 after acquiring an additional 25,961 shares during the period. Finally, Genesis Investment Management LLP lifted its stake in shares of iQIYI by 112.1% during the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock valued at $47,425,000 after acquiring an additional 8,765,711 shares during the period. 52.69% of the stock is currently owned by institutional investors.

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.