Mirae Asset Global Investments Co. Ltd. Sells 152,862 Shares of iQIYI, Inc. (NASDAQ:IQ)

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of iQIYI, Inc. (NASDAQ:IQ) by 91.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,005 shares of the company’s stock after selling 152,862 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in iQIYI were worth $28,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IQ. Flow Traders U.S. LLC purchased a new stake in shares of iQIYI in the 3rd quarter valued at about $32,000. Ground Swell Capital LLC purchased a new stake in shares of iQIYI in the 3rd quarter valued at about $32,000. HighTower Advisors LLC raised its holdings in shares of iQIYI by 102.9% in the 3rd quarter. HighTower Advisors LLC now owns 19,840 shares of the company’s stock valued at $56,000 after acquiring an additional 701,901 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of iQIYI in the 4th quarter valued at about $47,000. Finally, One Wealth Management Investment & Advisory Services LLC purchased a new stake in shares of iQIYI in the 3rd quarter valued at about $72,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

iQIYI Stock Up 0.8 %

IQ stock opened at $2.54 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45. iQIYI, Inc. has a 1-year low of $1.82 and a 1-year high of $5.80. The stock has a market capitalization of $2.44 billion, a P/E ratio of 12.70, a P/E/G ratio of 3.76 and a beta of 0.03. The business has a fifty day moving average price of $2.13 and a 200-day moving average price of $2.37.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. iQIYI had a return on equity of 13.26% and a net margin of 4.69%. During the same period last year, the company earned $0.07 earnings per share. Equities analysts forecast that iQIYI, Inc. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. HSBC raised iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target on the stock in a report on Thursday, January 16th. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Citigroup decreased their price objective on iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a report on Thursday, January 16th. Hsbc Global Res raised iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. Finally, Benchmark reissued a “hold” rating on shares of iQIYI in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.91.

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.