iQIYI, Inc. (NASDAQ:IQ) Given Average Recommendation of “Reduce” by Brokerages

iQIYI, Inc. (NASDAQ:IQ) has earned a consensus rating of “Reduce” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $3.15.

Several research firms recently weighed in on IQ. The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target for the company. in a report on Tuesday, August 27th. JPMorgan Chase & Co. lowered their price objective on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Nomura Securities raised shares of iQIYI to a “hold” rating in a research report on Monday, August 26th. Finally, Benchmark restated a “hold” rating on shares of iQIYI in a research note on Friday, November 22nd.

iQIYI Trading Up 0.9 %

Shares of IQ stock opened at $2.18 on Tuesday. iQIYI has a 12-month low of $1.89 and a 12-month high of $5.80. The company has a market capitalization of $2.09 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.58 and a beta of 0.02. The firm has a 50 day moving average price of $2.47 and a two-hundred day moving average price of $3.07. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Genesis Investment Management LLP grew its stake in iQIYI by 112.1% during the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after buying an additional 8,765,711 shares in the last quarter. Quarry LP acquired a new position in shares of iQIYI in the 2nd quarter valued at approximately $18,075,000. Federated Hermes Inc. lifted its holdings in shares of iQIYI by 18.9% during the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock worth $58,929,000 after acquiring an additional 2,549,287 shares during the period. Monolith Management Ltd acquired a new stake in shares of iQIYI during the 3rd quarter worth approximately $4,576,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of iQIYI by 185.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock worth $7,803,000 after acquiring an additional 1,381,265 shares in the last quarter. Institutional investors own 52.69% of the company’s stock.

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.