Nan Fung Trinity HK Ltd. Sells 23,497,000 Shares of iQIYI, Inc. (NASDAQ:IQ)

Nan Fung Trinity HK Ltd. reduced its holdings in shares of iQIYI, Inc. (NASDAQ:IQ) by 81.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,201,950 shares of the company’s stock after selling 23,497,000 shares during the quarter. iQIYI accounts for about 2.1% of Nan Fung Trinity HK Ltd.’s holdings, making the stock its 17th biggest holding. Nan Fung Trinity HK Ltd.’s holdings in iQIYI were worth $10,456,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Flow Traders U.S. LLC acquired a new stake in iQIYI in the third quarter valued at approximately $32,000. Ground Swell Capital LLC bought a new position in shares of iQIYI in the 3rd quarter valued at $32,000. Ballentine Partners LLC acquired a new stake in shares of iQIYI during the 4th quarter valued at $47,000. Franklin Resources Inc. grew its position in iQIYI by 16.0% during the 3rd quarter. Franklin Resources Inc. now owns 173,386 shares of the company’s stock worth $496,000 after acquiring an additional 23,926 shares during the last quarter. Finally, One Wealth Management Investment & Advisory Services LLC acquired a new position in iQIYI in the 3rd quarter worth about $72,000. 52.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IQ shares. JPMorgan Chase & Co. cut their price target on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. HSBC upgraded shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 target price on the stock in a research report on Thursday, January 16th. Hsbc Global Res upgraded shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 16th. OTR Global reiterated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Finally, Benchmark restated a “hold” rating on shares of iQIYI in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, iQIYI currently has a consensus rating of “Hold” and a consensus price target of $2.91.

iQIYI Stock Up 3.4 %

iQIYI stock opened at $2.26 on Friday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 4.13 and a beta of 0.03. iQIYI, Inc. has a 52-week low of $1.82 and a 52-week high of $5.80. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44. The firm has a 50 day moving average price of $2.13 and a two-hundred day moving average price of $2.34.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $919.56 million during the quarter, compared to analysts’ expectations of $6.62 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. Equities analysts predict that iQIYI, Inc. will post 0.04 EPS for the current year.

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.