ExodusPoint Capital Management LP Buys New Shares in iQIYI, Inc. (NASDAQ:IQ)

ExodusPoint Capital Management LP purchased a new stake in shares of iQIYI, Inc. (NASDAQ:IQ) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,756 shares of the company’s stock, valued at approximately $70,000.

Several other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in iQIYI in the fourth quarter valued at about $32,000. PDS Planning Inc acquired a new stake in iQIYI during the fourth quarter valued at approximately $35,000. Ballentine Partners LLC bought a new stake in shares of iQIYI in the 4th quarter valued at approximately $47,000. 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 worth $56,000 after buying an additional 701,901 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of iQIYI by 37.3% during the 4th quarter. Corient Private Wealth LLC now owns 28,138 shares of the company’s stock worth $57,000 after buying an additional 7,645 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Price Performance

IQ opened at $1.64 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45. The company’s 50 day simple moving average is $2.18 and its 200-day simple moving average is $2.24. iQIYI, Inc. has a one year low of $1.50 and a one year high of $5.80. The stock has a market capitalization of $1.58 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 4.13 and a beta of -0.18.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) 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%. Sell-side analysts anticipate that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on IQ shares. HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective for the company in a research note on Thursday, January 16th. Citigroup cut their price target on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a report on Thursday, January 16th. Benchmark reaffirmed 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 note on Thursday, January 16th. Finally, OTR Global reissued a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.