Krane Funds Advisors LLC Purchases 9,809,187 Shares of iQIYI, Inc. (NASDAQ:IQ)

Krane Funds Advisors LLC lifted its position in iQIYI, Inc. (NASDAQ:IQ) by 82.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,763,769 shares of the company’s stock after purchasing an additional 9,809,187 shares during the quarter. iQIYI comprises approximately 1.8% of Krane Funds Advisors LLC’s portfolio, making the stock its 13th largest holding. Krane Funds Advisors LLC owned approximately 2.27% of iQIYI worth $43,745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. increased its position in shares of iQIYI by 4.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company’s stock valued at $48,959,000 after purchasing an additional 1,114,390 shares during the last quarter. Vanguard Group Inc. boosted its position in iQIYI by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 18,293,085 shares of the company’s stock valued at $36,769,000 after buying an additional 502,154 shares during the period. Geode Capital Management LLC grew its stake in shares of iQIYI by 3.6% during the third quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company’s stock valued at $9,256,000 after buying an additional 112,709 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of iQIYI by 13.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,228,223 shares of the company’s stock worth $6,489,000 after buying an additional 393,834 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of iQIYI in the 4th quarter valued at about $6,297,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IQ shares. HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target for the company in a research report on Thursday, January 16th. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. Citigroup reduced their target price on iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a research note on Thursday, January 16th. OTR Global restated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Finally, Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, iQIYI currently has a consensus rating of “Hold” and an average price target of $2.91.

iQIYI Stock Performance

Shares of IQ stock opened at $1.81 on Monday. The company’s fifty day moving average price is $2.27 and its 200-day moving average price is $2.28. The stock has a market cap of $1.74 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 4.13 and a beta of -0.18. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70. iQIYI, Inc. has a 12 month low of $1.67 and a 12 month high of $5.80.

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

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.