Goldman Sachs Group Inc. Cuts Position in iQIYI, Inc. (NASDAQ:IQ)

Goldman Sachs Group Inc. decreased its holdings in iQIYI, Inc. (NASDAQ:IQ) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,069,123 shares of the company’s stock after selling 2,194,106 shares during the quarter. Goldman Sachs Group Inc. owned about 2.54% of iQIYI worth $117,457,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of IQ. Ballentine Partners LLC purchased a new position in shares of iQIYI in the fourth quarter valued at $54,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of iQIYI during the fourth quarter valued at $61,000. Pathstone Family Office LLC acquired a new stake in shares of iQIYI during the third quarter valued at $62,000. Tower Research Capital LLC TRC boosted its stake in shares of iQIYI by 321.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 17,585 shares of the company’s stock valued at $86,000 after acquiring an additional 13,417 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of iQIYI during the fourth quarter valued at $114,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. OTR Global reaffirmed a “mixed” rating on shares of iQIYI in a research note on Thursday, April 4th. Benchmark reissued a “buy” rating and issued a $9.00 price target on shares of iQIYI in a research note on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.18.

iQIYI Stock Up 0.7 %

Shares of IQ stock traded up $0.03 during mid-day trading on Friday, reaching $4.13. 24,653,085 shares of the company were exchanged, compared to its average volume of 9,293,525. iQIYI, Inc. has a fifty-two week low of $3.06 and a fifty-two week high of $6.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $3.96 billion, a P/E ratio of 14.75, a P/E/G ratio of 0.30 and a beta of 0.15. The business’s 50 day simple moving average is $4.65 and its 200 day simple moving average is $4.28.

iQIYI (NASDAQ:IQ) last released its quarterly earnings data on Thursday, May 16th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. iQIYI had a net margin of 6.23% and a return on equity of 17.57%. Research analysts predict that iQIYI, Inc. will post 0.38 earnings per share for the current 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.