iQIYI (NASDAQ:IQ) Trading 3.9% Higher

iQIYI, Inc. (NASDAQ:IQ) traded up 3.9% during trading on Wednesday . The stock traded as high as $4.81 and last traded at $4.76. 5,377,844 shares changed hands during trading, a decline of 35% from the average session volume of 8,318,943 shares. The stock had previously closed at $4.58.

Wall Street Analysts Forecast Growth

Separately, OTR Global restated a “mixed” rating on shares of iQIYI in a research note on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.54.

iQIYI Trading Up 5.2 %

The firm has a market cap of $4.62 billion, a PE ratio of 21.64 and a beta of 0.27. The company has a 50-day simple moving average of $4.00 and a 200 day simple moving average of $4.29. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.68.

iQIYI (NASDAQ:IQ) last posted its earnings results on Wednesday, February 28th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. iQIYI had a return on equity of 13.56% and a net margin of 4.76%. As a group, sell-side analysts forecast that iQIYI, Inc. will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iQIYI

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in shares of iQIYI by 80.6% in the fourth quarter. SG Americas Securities LLC now owns 587,980 shares of the company’s stock valued at $2,869,000 after acquiring an additional 262,461 shares in the last quarter. Vanguard Group Inc. boosted its position in iQIYI by 1.6% during the third quarter. Vanguard Group Inc. now owns 17,586,474 shares of the company’s stock worth $83,360,000 after acquiring an additional 269,491 shares during the last quarter. Federated Hermes Inc. grew its position in shares of iQIYI by 147.8% in the third quarter. Federated Hermes Inc. now owns 10,603,420 shares of the company’s stock valued at $50,260,000 after purchasing an additional 6,324,876 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of iQIYI by 62.7% in the third quarter. Nordea Investment Management AB now owns 388,266 shares of the company’s stock valued at $1,831,000 after purchasing an additional 149,557 shares during the period. Finally, Invesco Ltd. grew its stake in shares of iQIYI by 301.7% in the 3rd quarter. Invesco Ltd. now owns 2,082,326 shares of the company’s stock valued at $9,870,000 after buying an additional 1,564,006 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

About iQIYI

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.