Massachusetts Financial Services Co. MA decreased its position in IQIYI Inc (NASDAQ:IQ) by 16.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 359,604 shares of the company’s stock after selling 72,978 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.05% of IQIYI worth $9,735,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IQ. Bank of Montreal Can grew its holdings in shares of IQIYI by 538.3% in the 3rd quarter. Bank of Montreal Can now owns 967,735 shares of the company’s stock valued at $26,196,000 after acquiring an additional 816,118 shares in the last quarter. LMR Partners LLP bought a new position in shares of IQIYI in the 2nd quarter valued at about $9,625,000. Nepsis Inc. bought a new position in shares of IQIYI in the 2nd quarter valued at about $7,672,000. Marshall Wace LLP bought a new position in shares of IQIYI in the 2nd quarter valued at about $6,657,000. Finally, Tiger Pacific Capital LP grew its holdings in shares of IQIYI by 363.2% in the 2nd quarter. Tiger Pacific Capital LP now owns 231,599 shares of the company’s stock valued at $7,481,000 after acquiring an additional 181,599 shares in the last quarter. 5.66% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ IQ opened at $21.95 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.95 and a quick ratio of 0.95. IQIYI Inc has a 1-year low of $15.30 and a 1-year high of $46.23.
IQIYI (NASDAQ:IQ) last released its quarterly earnings results on Tuesday, October 30th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.22). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. As a group, sell-side analysts anticipate that IQIYI Inc will post -1.58 EPS for the current year.
A number of equities analysts recently commented on the company. Zacks Investment Research cut IQIYI from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Credit Suisse Group upgraded IQIYI from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 31st. Jefferies Financial Group assumed coverage on IQIYI in a report on Monday, October 8th. They set a “buy” rating and a $33.00 price objective for the company. CLSA assumed coverage on shares of IQIYI in a research report on Tuesday, September 4th. They issued a “buy” rating for the company. Finally, Goldman Sachs Group downgraded shares of IQIYI from a “buy” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Thursday, August 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. IQIYI has a consensus rating of “Hold” and an average price target of $30.60.
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.
Featured Story: Should you buy a closed-end mutual fund?
Want to see what other hedge funds are holding IQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IQIYI Inc (NASDAQ:IQ).