iQIYI (NASDAQ:IQ) Downgraded to “Hold” Rating by CLSA

iQIYI (NASDAQ:IQ) was downgraded by investment analysts at CLSA from an “outperform” rating to a “hold” rating in a research note issued on Thursday, MarketBeat Ratings reports.

Separately, Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, iQIYI has a consensus rating of “Hold” and an average target price of $2.91.

iQIYI Trading Down 1.2%

Shares of iQIYI stock opened at $1.67 on Thursday. The firm has a 50-day simple moving average of $1.91 and a two-hundred day simple moving average of $2.08. The company has a market cap of $1.61 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 4.13 and a beta of -0.14. iQIYI has a fifty-two week low of $1.50 and a fifty-two week high of $4.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44.

iQIYI (NASDAQ:IQ) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $988.19 million for the quarter, compared to analyst estimates of $7.10 billion. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. As a group, equities analysts predict that iQIYI will post 0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iQIYI

Institutional investors have recently modified their holdings of the company. Krane Funds Advisors LLC lifted its position in iQIYI by 82.1% in the fourth quarter. Krane Funds Advisors LLC now owns 21,763,769 shares of the company’s stock valued at $43,745,000 after acquiring an additional 9,809,187 shares during the last quarter. Woodline Partners LP purchased a new stake in iQIYI in the fourth quarter valued at $6,818,000. Dimensional Fund Advisors LP lifted its position in iQIYI by 41.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company’s stock valued at $22,135,000 after acquiring an additional 3,235,223 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in iQIYI in the fourth quarter valued at $6,297,000. Finally, Federated Hermes Inc. lifted its position in iQIYI by 44.5% in the first quarter. Federated Hermes Inc. now owns 9,370,852 shares of the company’s stock valued at $21,178,000 after acquiring an additional 2,886,631 shares during the last quarter. 52.69% of the stock is owned by hedge funds and other institutional investors.

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.