Sumitomo Mitsui Trust Holdings Inc. Sells 20,938 Shares of IQIYI Inc (NASDAQ:IQ)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in IQIYI Inc (NASDAQ:IQ) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 438,280 shares of the company’s stock after selling 20,938 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.06% of IQIYI worth $7,069,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of IQ. Bank of America Corp DE boosted its stake in shares of IQIYI by 852.6% in the 2nd quarter. Bank of America Corp DE now owns 8,193,215 shares of the company’s stock valued at $169,191,000 after purchasing an additional 7,333,157 shares during the last quarter. Morgan Stanley lifted its position in shares of IQIYI by 77.6% during the 2nd quarter. Morgan Stanley now owns 13,583,901 shares of the company’s stock valued at $280,508,000 after acquiring an additional 5,934,451 shares during the period. Matthews International Capital Management LLC lifted its position in shares of IQIYI by 119.6% during the 2nd quarter. Matthews International Capital Management LLC now owns 4,800,700 shares of the company’s stock valued at $99,134,000 after acquiring an additional 2,615,000 shares during the period. BlackRock Inc. lifted its position in shares of IQIYI by 34.5% during the 2nd quarter. BlackRock Inc. now owns 8,151,127 shares of the company’s stock valued at $168,321,000 after acquiring an additional 2,091,228 shares during the period. Finally, Hillhouse Capital Advisors LTD. lifted its position in shares of IQIYI by 15.5% during the 2nd quarter. Hillhouse Capital Advisors LTD. now owns 14,510,018 shares of the company’s stock valued at $299,632,000 after acquiring an additional 1,952,530 shares during the period. 23.44% of the stock is currently owned by institutional investors.

IQ traded down $0.37 during trading on Monday, hitting $19.15. 6,393,781 shares of the company’s stock were exchanged, compared to its average volume of 8,366,714. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average is $16.99 and its two-hundred day moving average is $18.56. IQIYI Inc has a fifty-two week low of $14.35 and a fifty-two week high of $29.18. The stock has a market cap of $12.90 billion, a P/E ratio of -7.75 and a beta of 2.93.

IQIYI (NASDAQ:IQ) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($5.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($4.30). IQIYI had a negative return on equity of 60.21% and a negative net margin of 38.28%. The business had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same quarter in the previous year, the company posted ($0.62) EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts forecast that IQIYI Inc will post -1.98 earnings per share for the current year.

A number of research analysts recently issued reports on the stock. Credit Suisse Group downgraded shares of IQIYI from an “outperform” rating to a “neutral” rating in a research report on Tuesday, August 20th. 86 Research downgraded shares of IQIYI from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Investment Research upgraded shares of IQIYI from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. CLSA downgraded shares of IQIYI from an “outperform” rating to an “underperform” rating in a research report on Thursday. Finally, KeyCorp assumed coverage on shares of IQIYI in a research report on Monday, July 29th. They set a “sector weight” rating and a $21.00 target price on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $21.40.

About IQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand 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.

Further Reading: Average Daily Trade Volume – ADTV

Institutional Ownership by Quarter for IQIYI (NASDAQ:IQ)

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