iQIYI (NASDAQ:IQ) Shares Gap Up – Still a Buy?

Shares of iQIYI, Inc. (NASDAQ:IQ) gapped up prior to trading on Friday . The stock had previously closed at $2.52, but opened at $2.69. iQIYI shares last traded at $2.51, with a volume of 12,766,807 shares traded.

Analyst Ratings Changes

Several research analysts have weighed in on IQ shares. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Friday, January 24th. HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target for the company in a report on Thursday, January 16th. OTR Global reiterated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Finally, Citigroup lowered their target price on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.91.

iQIYI Stock Up 0.8 %

The stock has a fifty day moving average price of $2.13 and a 200-day moving average price of $2.37. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a market cap of $2.44 billion, a PE ratio of 12.70, a PEG ratio of 3.76 and a beta of 0.03.

iQIYI (NASDAQ:IQ) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. iQIYI had a net margin of 4.69% and a return on equity of 13.26%. During the same period last year, the company earned $0.07 earnings per share. Research analysts expect that iQIYI, Inc. will post 0.14 EPS for the current year.

Hedge Funds Weigh In On iQIYI

Several hedge funds and other institutional investors have recently bought and sold shares of IQ. Schonfeld Strategic Advisors LLC purchased a new stake in iQIYI during the 4th quarter worth $721,000. Northern Trust Corp lifted its stake in shares of iQIYI by 94.5% in the fourth quarter. Northern Trust Corp now owns 1,230,272 shares of the company’s stock worth $2,473,000 after acquiring an additional 597,819 shares in the last quarter. Two Sigma Securities LLC boosted its holdings in iQIYI by 141.3% in the fourth quarter. Two Sigma Securities LLC now owns 155,717 shares of the company’s stock valued at $313,000 after purchasing an additional 91,179 shares during the last quarter. SIH Partners LLLP grew its stake in iQIYI by 191.6% during the 4th quarter. SIH Partners LLLP now owns 221,900 shares of the company’s stock valued at $446,000 after purchasing an additional 145,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in iQIYI by 41.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company’s stock worth $22,135,000 after purchasing an additional 3,235,223 shares during the last quarter. 52.69% of the stock is owned by institutional investors and hedge funds.

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.