BNP Paribas Arbitrage SNC Reduces Stock Position in iQIYI, Inc. (NASDAQ:IQ)

BNP Paribas Arbitrage SNC lowered its stake in iQIYI, Inc. (NASDAQ:IQ) by 17.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,481,996 shares of the company’s stock after selling 304,619 shares during the quarter. BNP Paribas Arbitrage SNC owned 0.16% of iQIYI worth $7,914,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IQ. FMR LLC raised its position in iQIYI by 92.1% in the first quarter. FMR LLC now owns 6,366 shares of the company’s stock worth $46,000 after acquiring an additional 3,052 shares during the period. Koshinski Asset Management Inc. bought a new stake in shares of iQIYI during the 2nd quarter valued at $53,000. Cubist Systematic Strategies LLC raised its position in shares of iQIYI by 1,404.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,101 shares of the company’s stock valued at $55,000 after purchasing an additional 12,230 shares during the period. DRW Securities LLC bought a new stake in shares of iQIYI during the 4th quarter valued at $61,000. Finally, Headlands Technologies LLC bought a new stake in shares of iQIYI during the 2nd quarter valued at $67,000. Hedge funds and other institutional investors own 30.65% of the company’s stock.

iQIYI Stock Performance

Shares of NASDAQ:IQ opened at $5.23 on Tuesday. iQIYI, Inc. has a 52 week low of $2.33 and a 52 week high of $7.99. The stock has a market capitalization of $4.95 billion, a P/E ratio of 74.71 and a beta of 0.56. The firm has a fifty day simple moving average of $4.77 and a two-hundred day simple moving average of $5.07. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.07.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Tuesday, August 22nd. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. iQIYI had a net margin of 1.44% and a return on equity of 5.25%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion. On average, analysts expect that iQIYI, Inc. will post 0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on IQ. HSBC decreased their price objective on shares of iQIYI from $5.80 to $5.60 and set a “hold” rating on the stock in a research report on Wednesday, August 23rd. Benchmark decreased their price objective on shares of iQIYI from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, August 23rd. Macquarie upgraded shares of iQIYI from an “underperform” rating to a “neutral” rating and set a $5.12 price objective on the stock in a research report on Thursday, July 27th. Finally, OTR Global upgraded shares of iQIYI from a “mixed” rating to a “positive” rating in a report on Friday, October 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.27.

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.