Investors Purchase Large Volume of Put Options on iQIYI (NASDAQ:IQ)

iQIYI, Inc. (NASDAQ:IQGet Rating) saw some unusual options trading on Tuesday. Traders purchased 13,543 put options on the company. This is an increase of approximately 131% compared to the average volume of 5,860 put options.

Analysts Set New Price Targets

IQ has been the topic of several research analyst reports. JPMorgan Chase & Co. initiated coverage on iQIYI in a research report on Wednesday, September 7th. They set an “overweight” rating and a $7.00 target price on the stock. Benchmark cut their target price on iQIYI from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 31st. HSBC cut their target price on iQIYI from $4.00 to $2.60 in a research report on Wednesday. Citigroup cut their target price on iQIYI from $6.50 to $4.00 and set a “buy” rating on the stock in a research report on Friday, October 14th. Finally, The Goldman Sachs Group dropped their price target on iQIYI from $5.10 to $4.40 and set a “neutral” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.29.

Hedge Funds Weigh In On iQIYI

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in iQIYI by 1.8% during the third quarter. Vanguard Group Inc. now owns 12,149,935 shares of the company’s stock worth $32,926,000 after purchasing an additional 219,515 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in iQIYI by 33.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,965,510 shares of the company’s stock worth $46,055,000 after purchasing an additional 2,731,725 shares during the last quarter. Krane Funds Advisors LLC raised its holdings in shares of iQIYI by 20.7% in the first quarter. Krane Funds Advisors LLC now owns 10,161,198 shares of the company’s stock worth $46,132,000 after acquiring an additional 1,745,754 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of iQIYI by 2.0% in the first quarter. Canada Pension Plan Investment Board now owns 4,820,440 shares of the company’s stock worth $21,885,000 after acquiring an additional 95,740 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of iQIYI by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,630,413 shares of the company’s stock worth $9,843,000 after acquiring an additional 83,981 shares during the last quarter. 44.85% of the stock is owned by institutional investors and hedge funds.

iQIYI Stock Up 2.1 %

IQ opened at $2.48 on Thursday. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.54 and a quick ratio of 0.54. The business has a 50 day simple moving average of $2.54 and a 200-day simple moving average of $3.46. The stock has a market capitalization of $1.98 billion, a P/E ratio of -3.54 and a beta of 0.70. iQIYI has a 12 month low of $1.65 and a 12 month high of $6.86.

iQIYI (NASDAQ:IQGet Rating) last posted its quarterly earnings results on Tuesday, August 30th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. iQIYI had a negative return on equity of 48.03% and a negative net margin of 12.33%. During the same period last year, the firm earned ($0.27) EPS. On average, equities analysts anticipate that iQIYI will post -0.04 earnings per share for the current fiscal year.

About iQIYI

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iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in the People's Republic of China. The company offers various products and services comprising internet video, online games, live broadcasting, online literature, animations, e-commerce, and social media platform.

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