E Fund Management Co. Ltd. Boosts Stake in iQIYI, Inc.

E Fund Management Co. Ltd. has increased its investment in iQIYI, Inc. (NASDAQ:IQ) by 39.6% during the fourth quarter, as reported in its latest 13F filing with the Securities and Exchange Commission (SEC). After acquiring an additional 756,552 shares during this period, E Fund now holds a total of 2,667,758 shares of iQIYI. The firm's stake represents approximately 0.28% of iQIYI, valued at about $5,362,000.

Other hedge funds have also made changes to their positions in iQIYI recently. For instance, SBI Securities Co. Ltd. acquired a new stake in the company valued at about $32,000 during the fourth quarter. Similarly, Y Intercept Hong Kong Ltd. made a new investment worth approximately $468,000. Additionally, Vontobel Holding Ltd. increased its position in iQIYI by 29.9% and now owns 246,907 shares worth $496,000 after acquiring 56,778 shares in the last quarter. Robeco Institutional Asset Management B.V. also raised its stake in iQIYI by 4.8%, bringing its total to 24,357,654 shares valued at $48,959,000, following an additional purchase of 1,114,390 shares. Lastly, Ballentine Partners LLC has secured a new stake valued at $47,000. Overall, approximately 52.69% of iQIYI's stock is held by hedge funds and other institutional investors.

Recent Analyst Ratings

Several equity analysts have provided insights on iQIYI's stock. Benchmark has reiterated a "hold" rating on shares of iQIYI. Citigroup has reduced its target price from $3.00 to $2.80 while maintaining a "buy" rating for the stock. Meanwhile, HSBC Global Research improved its stance on iQIYI from a "moderate sell" to a "hold" rating and set a price target of $2.15. Additionally, JPMorgan Chase & Co. has decreased its target price from $2.50 to $1.80, landing a "neutral" rating on the stock. Currently, one investment analyst has rated iQIYI with a sell, six have given it a hold rating, and one has assigned a buy rating. Based on data from MarketBeat, the consensus among analysts is a "hold" rating, with an average target price of $2.91.

iQIYI Stock Performance

As of the latest trading session, iQIYI shares opened at $2.32. Over the past year, the stock has hit a low of $1.82 and reached a high of $5.80. The 50-day simple moving average stands at $2.14, while the 200-day simple moving average is at $2.28. iQIYI's market capitalization is approximately $2.23 billion, with a price-to-earnings (P/E) ratio of 23.20 and a P/E/G ratio of 4.13. The company maintains a debt-to-equity ratio of 0.70, with a quick ratio of 0.45 and a current ratio of 0.44.

In its last report, published on February 18th, iQIYI announced earnings per share (EPS) of ($0.03), surpassing analysts’ expectations of ($0.04) by $0.01. The company's revenue for the quarter was reported at $919.56 million, significantly higher than analysts’ forecasts of $6.62 billion. iQIYI recorded a net margin of 2.62% and a return on equity of 7.62%. Analysts project that iQIYI will achieve an EPS of 0.04 for the current year.

About iQIYI

iQIYI, Inc. is a leading online entertainment service provider in the People's Republic of China. The company offers various services, including online video, online games, literature, animations, and more, through its platform that aggregates a rich collection of internet video content, comprising both licensed professional content and self-produced materials.

investment, iQIYI, funds