iQIYI (NASDAQ:IQ) Posts Quarterly Earnings Results, Meets Estimates

iQIYI (NASDAQ:IQ) released its quarterly earnings data on Tuesday. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03), Zacks reports. iQIYI had a negative net margin of 2.61% and a negative return on equity of 4.72%.

iQIYI Price Performance

Shares of NASDAQ IQ opened at $1.33 on Tuesday. The company has a fifty day moving average price of $1.16 and a 200 day moving average price of $1.32. The firm has a market cap of $1.28 billion, a PE ratio of -13.30 and a beta of 0.19. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.79. iQIYI has a 1-year low of $0.95 and a 1-year high of $2.84.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in iQIYI in the 4th quarter valued at approximately $8,488,000. Marshall Wace LLP boosted its position in 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 acquiring an additional 2,626,502 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 acquiring an additional 1,716,011 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of iQIYI by 1.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock worth $1,107,000 after acquiring an additional 6,900 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of iQIYI by 20.8% in the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after purchasing an additional 5,077 shares during the last quarter. 52.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.