Flow Traders U.S. LLC Purchases New Position in iQIYI, Inc. (NASDAQ:IQ)

Flow Traders U.S. LLC acquired a new position in shares of iQIYI, Inc. (NASDAQ:IQ) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,088 shares of the company’s stock, valued at approximately $32,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IQ. Genesis Investment Management LLP grew its position in iQIYI by 112.1% in the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after purchasing an additional 8,765,711 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of iQIYI by 18.9% in the second quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock valued at $58,929,000 after acquiring an additional 2,549,287 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of iQIYI by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock valued at $21,443,000 after acquiring an additional 694,349 shares during the last quarter. Quarry LP bought a new stake in iQIYI during the second quarter worth $18,075,000. Finally, The Manufacturers Life Insurance Company grew its stake in iQIYI by 185.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock valued at $7,803,000 after purchasing an additional 1,381,265 shares during the period. 52.69% of the stock is owned by hedge funds and other institutional investors.

iQIYI Stock Performance

iQIYI stock opened at $2.21 on Friday. The firm’s 50 day simple moving average is $2.44 and its 200 day simple moving average is $3.02. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. iQIYI, Inc. has a 1-year low of $1.89 and a 1-year high of $5.80. The firm has a market capitalization of $2.12 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 0.57 and a beta of 0.02.

Analyst Ratings Changes

IQ has been the topic of several research reports. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research report on Friday, November 22nd. JPMorgan Chase & Co. dropped their price objective on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Nomura Securities raised iQIYI to a “hold” rating in a research report on Monday, August 26th. Finally, 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 note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.15.

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.