Harvest Fund Management Co. Ltd Purchases 691,364 Shares of iQIYI, Inc. (NASDAQ:IQ)

Harvest Fund Management Co. Ltd lifted its position in iQIYI, Inc. (NASDAQ:IQ) by 43.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,291,428 shares of the company’s stock after acquiring an additional 691,364 shares during the period. iQIYI makes up about 1.7% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 15th largest position. Harvest Fund Management Co. Ltd’s holdings in iQIYI were worth $11,205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC bought a new position in iQIYI during the fourth quarter worth $54,000. Raymond James Financial Services Advisors Inc. acquired a new position in iQIYI in the fourth quarter valued at about $61,000. Pathstone Family Office LLC acquired a new position in iQIYI in the third quarter valued at about $62,000. DGS Capital Management LLC raised its stake in iQIYI by 111.1% in the fourth quarter. DGS Capital Management LLC now owns 26,517 shares of the company’s stock valued at $129,000 after purchasing an additional 13,958 shares in the last quarter. Finally, Deltec Asset Management LLC raised its stake in iQIYI by 124.3% during the third quarter. Deltec Asset Management LLC now owns 41,500 shares of the company’s stock worth $197,000 after acquiring an additional 23,000 shares in the last quarter. 52.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, OTR Global reissued 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.54.

iQIYI Trading Up 6.3 %

IQ stock traded up $0.27 during trading on Tuesday, hitting $4.58. The company had a trading volume of 9,465,714 shares, compared to its average volume of 8,358,327. The business has a 50-day moving average of $4.00 and a 200-day moving average of $4.29. iQIYI, Inc. has a one year low of $3.06 and a one year high of $6.56. The stock has a market cap of $4.39 billion, a PE ratio of 20.82 and a beta of 0.27. 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 announced its earnings results on Wednesday, February 28th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The business 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%. Research analysts predict that iQIYI, Inc. will post 0.38 earnings per share for the current fiscal year.

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.