Cresset Asset Management LLC Sells 22,378 Shares of iQIYI, Inc. (NASDAQ:IQ)

Cresset Asset Management LLC lowered its holdings in iQIYI, Inc. (NASDAQ:IQ) by 18.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,429 shares of the company’s stock after selling 22,378 shares during the quarter. Cresset Asset Management LLC’s holdings in iQIYI were worth $200,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Franklin Resources Inc. raised its stake in shares of iQIYI by 16.0% during the 3rd quarter. Franklin Resources Inc. now owns 173,386 shares of the company’s stock worth $496,000 after acquiring an additional 23,926 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of iQIYI during the 4th quarter worth approximately $47,000. Robeco Institutional Asset Management B.V. raised its stake in shares of 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 in the last quarter. Vontobel Holding Ltd. raised its stake in shares of iQIYI by 29.9% during the 4th quarter. Vontobel Holding Ltd. now owns 246,907 shares of the company’s stock worth $496,000 after acquiring an additional 56,778 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of iQIYI during the 4th quarter worth approximately $468,000. Institutional investors own 52.69% of the company’s stock.

Analyst Ratings Changes

Separately, 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 given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.91.

iQIYI Stock Up 0.5%

NASDAQ:IQ opened at $1.93 on Monday. The company has a market cap of $1.86 billion, a PE ratio of 19.30, a P/E/G ratio of 4.13 and a beta of -0.14. iQIYI, Inc. has a twelve month low of $1.50 and a twelve month high of $5.28. 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 company’s 50 day moving average is $1.97 and its two-hundred day moving average is $2.10.

iQIYI (NASDAQ:IQ) last released 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. The business had revenue of $919.56 million for the quarter, compared to the consensus estimate of $6.62 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. Analysts anticipate that iQIYI, Inc. will post 0.04 EPS 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.