Pictet Asset Management Holding SA Has $562,000 Stock Position in iQIYI, Inc. (NASDAQ:IQ)

Pictet Asset Management Holding SA lessened its stake in iQIYI, Inc. (NASDAQ:IQ) by 48.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 279,600 shares of the company’s stock after selling 262,800 shares during the quarter. Pictet Asset Management Holding SA’s holdings in iQIYI were worth $562,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in iQIYI during the fourth quarter worth approximately $32,000. PDS Planning Inc acquired a new position in shares of iQIYI during the 4th quarter worth approximately $35,000. Ballentine Partners LLC bought a new stake in iQIYI in the 4th quarter valued at $47,000. HighTower Advisors LLC lifted its holdings in iQIYI by 102.9% during the 3rd quarter. HighTower Advisors LLC now owns 19,840 shares of the company’s stock valued at $56,000 after purchasing an additional 701,901 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in iQIYI by 37.3% during the fourth quarter. Corient Private Wealth LLC now owns 28,138 shares of the company’s stock worth $57,000 after purchasing an additional 7,645 shares during the period. 52.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IQ. Hsbc Global Res raised shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 16th. OTR Global restated a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. HSBC raised iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 target price on the stock in a research report on Thursday, January 16th. Citigroup dropped their price target on iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Wednesday, February 19th. One equities research 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 presently has an average rating of “Hold” and an average price target of $2.91.

iQIYI Stock Down 12.1 %

NASDAQ IQ opened at $1.53 on Wednesday. The business has a fifty day moving average price of $2.23 and a two-hundred day moving average price of $2.27. The stock has a market capitalization of $1.47 billion, a PE ratio of 15.30, a PEG ratio of 4.13 and a beta of -0.18. iQIYI, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $5.80. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45.

iQIYI (NASDAQ:IQ) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $919.56 million for the quarter, compared to analyst estimates of $6.62 billion. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. Equities analysts expect that iQIYI, Inc. will post 0.04 earnings per share 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.