Bank of New York Mellon Corp Sells 333,157 Shares of iQIYI, Inc. (NASDAQ:IQ)

Bank of New York Mellon Corp reduced its stake in iQIYI, Inc. (NASDAQ:IQ) by 41.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 469,193 shares of the company’s stock after selling 333,157 shares during the period. Bank of New York Mellon Corp’s holdings in iQIYI were worth $943,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of IQ. Flow Traders U.S. LLC acquired a new position in iQIYI in the 3rd quarter valued at about $32,000. HighTower Advisors LLC boosted its holdings in shares of iQIYI by 102.9% during the third quarter. HighTower Advisors LLC now owns 19,840 shares of the company’s stock worth $56,000 after acquiring an additional 701,901 shares during the period. Ballentine Partners LLC acquired a new position in shares of iQIYI in the fourth quarter valued at approximately $47,000. Public Employees Retirement System of Ohio bought a new position in shares of iQIYI during the third quarter worth approximately $88,000. Finally, Tidal Investments LLC acquired a new stake in iQIYI during the 3rd quarter worth approximately $164,000. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Price Performance

Shares of NASDAQ:IQ opened at $2.21 on Wednesday. The firm has a 50 day moving average of $2.23 and a 200-day moving average of $2.27. iQIYI, Inc. has a 12 month low of $1.82 and a 12 month high of $5.80. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $2.12 billion, a PE ratio of 22.10, a PEG ratio of 4.13 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.62 billion. On average, equities research analysts predict that iQIYI, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IQ has been the topic of a number of research reports. Hsbc Global Res raised iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. HSBC upgraded shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target on the stock in a research note on Thursday, January 16th. OTR Global reiterated a “negative” rating on shares of iQIYI in a research note on Wednesday, January 8th. Citigroup decreased their target price on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Benchmark reiterated 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.91.

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.