Vestmark Advisory Solutions Inc. Makes New $213,000 Investment in iQIYI, Inc. (NASDAQ:IQ)

Posted by Defense World Staff on Aug 19th, 2023

Vestmark Advisory Solutions Inc. purchased a new position in iQIYI, Inc. (NASDAQ:IQ – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 29,206 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors have also bought and sold shares of the company. Cubist Systematic Strategies LLC grew its position in shares of iQIYI by 1,404.1% during the second quarter. Cubist Systematic Strategies LLC now owns 13,101 shares of the company’s stock valued at $55,000 after purchasing an additional 12,230 shares in the last quarter. DRW Securities LLC purchased a new position in shares of iQIYI during the fourth quarter valued at about $61,000. Ensign Peak Advisors Inc grew its position in shares of iQIYI by 30.1% during the third quarter. Ensign Peak Advisors Inc now owns 26,150 shares of the company’s stock valued at $71,000 after purchasing an additional 6,050 shares in the last quarter. Baker Tilly Wealth Management LLC purchased a new position in shares of iQIYI during the first quarter valued at about $73,000. Finally, Venture Visionary Partners LLC purchased a new position in shares of iQIYI during the fourth quarter valued at about $76,000. Hedge funds and other institutional investors own 30.18% of the company’s stock.

iQIYI Stock Down 5.4 %

Shares of NASDAQ IQ opened at $5.24 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $4.96 billion, a P/E ratio of -262.00 and a beta of 0.62. iQIYI, Inc. has a 1 year low of $1.65 and a 1 year high of $7.99. The firm has a 50-day simple moving average of $5.46 and a two-hundred day simple moving average of $6.09.

iQIYI (NASDAQ:IQ – Get Free Report) last announced its quarterly earnings data on Tuesday, May 16th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.15 billion. iQIYI had a negative return on equity of 2.03% and a negative net margin of 0.50%. Research analysts anticipate that iQIYI, Inc. will post 0.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IQ. Credit Suisse Group upgraded iQIYI from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $7.70 to $8.00 in a research report on Wednesday, May 17th. Macquarie raised shares of iQIYI from an “underperform” rating to a “neutral” rating and set a $5.12 price target for the company in a report on Thursday, July 27th. Finally, HSBC lowered their price target on shares of iQIYI from $8.00 to $6.40 in a report on Wednesday, May 17th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, iQIYI has a consensus rating of “Moderate Buy” and an average price target of $6.55.

Read Our Latest Stock Report on iQIYI

iQIYI Company Profile

(Free Report)

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.