1,947,461 Shares in iQIYI, Inc. (NASDAQ:IQ) Bought by Norges Bank

Norges Bank purchased a new stake in iQIYI, Inc. (NASDAQ:IQ) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,947,461 shares of the company’s stock, valued at approximately $3,914,000. Norges Bank owned approximately 0.20% of iQIYI as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of IQ. FMR LLC raised its position in iQIYI by 738.1% during the third quarter. FMR LLC now owns 137,793 shares of the company’s stock valued at $394,000 after purchasing an additional 121,352 shares in the last quarter. HighTower Advisors LLC increased its stake 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 purchasing an additional 701,901 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of iQIYI by 344.6% during the 3rd quarter. XTX Topco Ltd now owns 126,659 shares of the company’s stock worth $362,000 after buying an additional 98,169 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of iQIYI during the 3rd quarter worth $88,000. Finally, Geode Capital Management LLC boosted its stake in iQIYI by 3.6% in the third quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company’s stock valued at $9,256,000 after buying an additional 112,709 shares in the last quarter. Institutional investors own 52.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Benchmark reissued a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. Hsbc Global Res upgraded 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 upgraded shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target for the company in a report on Thursday, January 16th. Finally, Citigroup cut 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. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.91.

iQIYI Price Performance

IQ stock opened at $1.67 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44. iQIYI, Inc. has a 52-week low of $1.50 and a 52-week high of $5.80. The company has a market capitalization of $1.60 billion, a P/E ratio of 16.70, a PEG ratio of 4.13 and a beta of -0.18. The company has a fifty day moving average price of $2.20 and a 200-day moving average price of $2.26.

iQIYI (NASDAQ:IQ) last announced its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. The business had revenue of $919.56 million during the quarter, compared to analyst estimates of $6.62 billion. As a group, equities analysts expect that iQIYI, Inc. will post 0.04 EPS for the current year.

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.