Ground Swell Capital LLC Purchases New Shares in iQIYI, Inc. (NASDAQ:IQ)

Ground Swell Capital LLC acquired a new stake in shares of iQIYI, Inc. (NASDAQ:IQ) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,336 shares of the company’s stock, valued at approximately $32,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in iQIYI by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,756,701 shares of the company’s stock valued at $86,653,000 after buying an additional 170,227 shares during the period. Genesis Investment Management LLP increased its position in iQIYI by 112.1% during the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after acquiring an additional 8,765,711 shares during the period. Federated Hermes Inc. increased its holdings in iQIYI by 18.9% in the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock valued at $58,929,000 after buying an additional 2,549,287 shares during the period. Maple Rock Capital Partners Inc. boosted its stake in shares of iQIYI by 65.4% in the 1st 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. Finally, Dimensional Fund Advisors LP lifted its position in iQIYI by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock worth $21,443,000 after buying an additional 694,349 shares in the last quarter. 52.69% of the stock is currently owned by institutional investors.

iQIYI Stock Performance

NASDAQ:IQ opened at $2.46 on Monday. The business’s 50-day moving average price is $2.42 and its two-hundred day moving average price is $3.47. iQIYI, Inc. has a twelve month low of $1.92 and a twelve month high of $5.80. The stock has a market cap of $2.36 billion, a P/E ratio of 10.25, a PEG ratio of 0.71 and a beta of 0.08. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67.

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

Analysts Set New Price Targets

IQ has been the subject of a number of recent analyst reports. Nomura Securities raised iQIYI to a “hold” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. lowered their target price on iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Hsbc Global Res cut iQIYI from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group downgraded iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target for the company. in a research report on Tuesday, August 27th. Finally, HSBC downgraded 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 report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $3.45.

iQIYI 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.