SeaBridge Investment Advisors LLC lifted its position in shares of IQIYI Inc (NASDAQ:IQ) by 25.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,971 shares of the company’s stock after acquiring an additional 3,015 shares during the period. SeaBridge Investment Advisors LLC’s holdings in IQIYI were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kovack Advisors Inc. grew its position in IQIYI by 30.3% in the 3rd quarter. Kovack Advisors Inc. now owns 8,868 shares of the company’s stock worth $240,000 after purchasing an additional 2,060 shares during the period. PNC Financial Services Group Inc. bought a new stake in IQIYI in the 2nd quarter worth approximately $105,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in IQIYI in the 2nd quarter worth approximately $113,000. Canada Pension Plan Investment Board grew its position in IQIYI by 0.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,506,000 shares of the company’s stock worth $48,644,000 after purchasing an additional 6,000 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new stake in IQIYI in the 2nd quarter worth approximately $208,000. 5.56% of the stock is owned by institutional investors.
IQ has been the subject of a number of research analyst reports. Bank of America lifted their target price on shares of IQIYI from $35.50 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 1st. Zacks Investment Research raised shares of IQIYI from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Saturday, August 4th. Credit Suisse Group cut shares of IQIYI from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 1st. Jefferies Financial Group began coverage on shares of IQIYI in a research note on Monday, October 8th. They set a “buy” rating and a $33.00 price target on the stock. Finally, CLSA began coverage on shares of IQIYI in a research note on Tuesday, September 4th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. IQIYI presently has an average rating of “Hold” and an average target price of $30.60.
Shares of IQIYI stock opened at $23.57 on Friday. IQIYI Inc has a 1-year low of $15.30 and a 1-year high of $46.23. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01.
IQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Tuesday, July 31st. The company reported ($0.45) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.30) by $1.85. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.26 billion. The company’s revenue was up 42.6% on a year-over-year basis. As a group, sell-side analysts forecast that IQIYI Inc will post -1.45 earnings per share for the current year.
IQIYI Company Profile
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.
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