Jacobs & Co. CA Increases Stake in IQIYI Inc (NASDAQ:IQ)

Jacobs & Co. CA raised its holdings in shares of IQIYI Inc (NASDAQ:IQ) by 6.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,052 shares of the company’s stock after buying an additional 2,000 shares during the period. Jacobs & Co. CA’s holdings in IQIYI were worth $549,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its stake in shares of IQIYI by 13.4% in the third quarter. Steward Partners Investment Advisory LLC now owns 5,475 shares of the company’s stock worth $88,000 after purchasing an additional 645 shares in the last quarter. Scotia Capital Inc. increased its stake in shares of IQIYI by 4.6% in the second quarter. Scotia Capital Inc. now owns 17,553 shares of the company’s stock worth $363,000 after purchasing an additional 770 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of IQIYI by 23.0% in the second quarter. Advisory Services Network LLC now owns 4,550 shares of the company’s stock worth $94,000 after purchasing an additional 850 shares in the last quarter. Advantage Investment Management LLC increased its stake in shares of IQIYI by 50.7% in the third quarter. Advantage Investment Management LLC now owns 2,914 shares of the company’s stock worth $47,000 after purchasing an additional 980 shares in the last quarter. Finally, TrinityPoint Wealth LLC increased its stake in shares of IQIYI by 7.1% in the second quarter. TrinityPoint Wealth LLC now owns 15,120 shares of the company’s stock worth $289,000 after purchasing an additional 1,000 shares in the last quarter. 23.44% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on IQ. ValuEngine cut shares of IQIYI from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. KeyCorp began coverage on shares of IQIYI in a research note on Monday, July 29th. They issued a “sector weight” rating and a $21.00 price objective for the company. Credit Suisse Group cut shares of IQIYI from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. began coverage on shares of IQIYI in a research note on Friday, August 16th. They issued an “underweight” rating and a $14.00 price objective for the company. Finally, Jefferies Financial Group began coverage on shares of IQIYI in a research note on Monday, August 5th. They issued a “buy” rating and a $21.80 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $21.40.

Shares of NASDAQ:IQ traded down $0.48 during midday trading on Friday, reaching $19.52. 9,960,700 shares of the company were exchanged, compared to its average volume of 8,375,789. The business’s fifty day moving average is $16.99 and its two-hundred day moving average is $18.56. The stock has a market cap of $12.90 billion, a PE ratio of -7.90 and a beta of 2.93. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.82. IQIYI Inc has a one year low of $14.35 and a one year high of $29.18.

IQIYI (NASDAQ:IQ) last released its earnings results on Wednesday, November 6th. The company reported ($5.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($4.30). The firm had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.23 billion. IQIYI had a negative return on equity of 60.21% and a negative net margin of 38.28%. IQIYI’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.62) EPS. As a group, sell-side analysts expect that IQIYI Inc will post -1.98 EPS for the current year.

IQIYI Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

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Institutional Ownership by Quarter for IQIYI (NASDAQ:IQ)

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