iQIYI (NASDAQ:IQ) Announces Earnings Results

iQIYI (NASDAQ:IQ) issued its earnings results on Tuesday. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03), Zacks reports. iQIYI had a negative return on equity of 4.72% and a negative net margin of 2.61%.

iQIYI Price Performance

iQIYI stock opened at $1.33 on Tuesday. The stock’s 50 day moving average is $1.16 and its 200 day moving average is $1.32. iQIYI has a one year low of $0.95 and a one year high of $2.84. The firm has a market cap of $1.28 billion, a P/E ratio of -13.30 and a beta of 0.19. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.45 and a quick ratio of 0.45.

Analyst Upgrades and Downgrades

IQ has been the subject of several research reports. Benchmark reissued a “hold” rating on shares of iQIYI in a research note on Tuesday, May 19th. Zacks Research raised iQIYI from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Wall Street Zen lowered iQIYI from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.55.

Institutional Trading of iQIYI

A number of institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC raised its position in shares of iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after acquiring an additional 5,077 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in iQIYI by 1.6% in the third quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock valued at $1,107,000 after buying an additional 6,900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of iQIYI by 393.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock worth $4,864,000 after buying an additional 1,716,011 shares in the last quarter. Marshall Wace LLP grew its position in shares of iQIYI by 1,423.3% during the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after buying an additional 2,626,502 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of iQIYI in the 4th quarter valued at $8,488,000. Institutional investors own 52.69% of the company’s stock.

About iQIYI

iQIYI, Inc is a leading online entertainment service provider headquartered in Beijing, China, offering a comprehensive portfolio of streaming video content across multiple genres. The company operates a subscription-based video-on-demand (SVOD) platform, complemented by advertising-supported content (AVOD) and pay-per-view offerings. Its digital library encompasses original series, feature films, variety shows, animation and documentaries, catering to diverse demographic segments and viewer preferences.

Originally launched by Baidu in 2010 as an online video site, iQIYI was formally rebranded in early 2012 and has since expanded its footprint beyond China’s domestic market.