Legal & General Group Plc Has $2.38 Million Stock Position in iQIYI, Inc. (NASDAQ:IQ)

Legal & General Group Plc reduced its stake in iQIYI, Inc. (NASDAQ:IQ) by 71.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,186,011 shares of the company’s stock after selling 3,032,485 shares during the period. Legal & General Group Plc owned approximately 0.12% of iQIYI worth $2,384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of IQ. Arrowstreet Capital Limited Partnership acquired a new position in iQIYI in the fourth quarter valued at about $6,297,000. Norges Bank acquired a new position in shares of iQIYI in the 4th quarter worth approximately $3,914,000. Robeco Institutional Asset Management B.V. grew its position in iQIYI by 4.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company’s stock worth $48,959,000 after acquiring an additional 1,114,390 shares during the last quarter. Wellington Management Group LLP acquired a new stake in iQIYI during the 4th quarter valued at $1,998,000. Finally, E Fund Management Co. Ltd. raised its position in iQIYI by 39.6% in the 4th quarter. E Fund Management Co. Ltd. now owns 2,667,758 shares of the company’s stock valued at $5,362,000 after purchasing an additional 756,552 shares during the last quarter. 52.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IQ. Benchmark restated 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. Citigroup lowered 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. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Finally, HSBC raised iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 target price for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.91.

iQIYI Stock Up 2.1 %

NASDAQ:IQ opened at $1.91 on Friday. The stock’s fifty day simple moving average is $2.07 and its 200-day simple moving average is $2.18. The firm has a market capitalization of $1.84 billion, a P/E ratio of 19.10, a P/E/G ratio of 4.13 and a beta of -0.18. The company has a quick ratio of 0.45, a current ratio of 0.44 and a debt-to-equity ratio of 0.70. iQIYI, Inc. has a 12-month low of $1.50 and a 12-month high of $5.80.

iQIYI (NASDAQ:IQ) last posted 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. The company had revenue of $919.56 million during 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 research analysts expect that iQIYI, Inc. will post 0.04 earnings per share for the current 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.