Genesis Investment Management LLP Has $7.88 Million Stock Position in iQIYI, Inc. (NASDAQ:IQ)

Genesis Investment Management LLP lowered its holdings in iQIYI, Inc. (NASDAQ:IQ) by 76.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,921,494 shares of the company’s stock after selling 12,660,689 shares during the period. iQIYI comprises about 8.7% of Genesis Investment Management LLP’s investment portfolio, making the stock its 3rd biggest holding. Genesis Investment Management LLP’s holdings in iQIYI were worth $7,882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of IQ. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of iQIYI during the second quarter valued at $31,000. Flow Traders U.S. LLC bought a new stake in iQIYI in the 3rd quarter valued at about $32,000. Ground Swell Capital LLC acquired a new position in iQIYI during the 3rd quarter valued at about $32,000. Seven Eight Capital LP bought a new position in iQIYI in the 2nd quarter worth about $42,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in iQIYI in the 2nd quarter worth about $46,000. Institutional investors own 52.69% of the company’s stock.

Analyst Ratings Changes

IQ has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Friday, November 22nd. Citigroup reduced their price target on iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a research report on Thursday, January 16th. Hsbc Global Res raised iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Finally, Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.91.

iQIYI Stock Up 3.7 %

IQ opened at $1.94 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market capitalization of $1.86 billion, a PE ratio of 9.70, a P/E/G ratio of 2.03 and a beta of 0.02. The stock’s fifty day moving average is $2.09 and its 200-day moving average is $2.53. iQIYI, Inc. has a one year low of $1.82 and a one year high of $5.80.

iQIYI Company Profile

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.