Federated Hermes Inc. Increases Stock Position in iQIYI, Inc. (NASDAQ:IQ)

Federated Hermes Inc. raised its holdings in iQIYI, Inc. (NASDAQ:IQ) by 14.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,153,225 shares of the company’s stock after purchasing an additional 1,549,805 shares during the quarter. Federated Hermes Inc. owned about 1.28% of iQIYI worth $59,308,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC increased its stake in iQIYI by 92.1% in the first quarter. FMR LLC now owns 6,366 shares of the company’s stock valued at $46,000 after purchasing an additional 3,052 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of iQIYI by 5.9% during the third quarter. Asset Management One Co. Ltd. now owns 65,324 shares of the company’s stock worth $310,000 after acquiring an additional 3,632 shares during the period. Wells Fargo & Company MN increased its stake in shares of iQIYI by 32.1% during the fourth quarter. Wells Fargo & Company MN now owns 16,568 shares of the company’s stock worth $88,000 after acquiring an additional 4,025 shares during the period. Mariner LLC increased its stake in shares of iQIYI by 39.0% during the fourth quarter. Mariner LLC now owns 15,451 shares of the company’s stock worth $82,000 after acquiring an additional 4,333 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of iQIYI by 6.0% during the third quarter. Principal Financial Group Inc. now owns 100,567 shares of the company’s stock worth $477,000 after acquiring an additional 5,691 shares during the period. 52.69% of the stock is currently owned by institutional investors and hedge funds.

iQIYI Trading Down 2.6 %

Shares of iQIYI stock opened at $4.09 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.68. The company’s 50-day simple moving average is $3.94 and its 200-day simple moving average is $4.30. iQIYI, Inc. has a 52-week low of $3.06 and a 52-week high of $6.99. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 18.59 and a beta of 0.27.

iQIYI (NASDAQ:IQ) last issued its earnings results on Wednesday, February 28th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. iQIYI had a net margin of 4.76% and a return on equity of 13.56%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. As a group, equities research analysts anticipate that iQIYI, Inc. will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

Separately, OTR Global reiterated a “mixed” rating on shares of iQIYI in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.54.

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.