Janney Montgomery Scott LLC Increases Position in IQIYI Inc (IQ)

Janney Montgomery Scott LLC increased its stake in IQIYI Inc (NASDAQ:IQ) by 56.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,883 shares of the company’s stock after acquiring an additional 4,275 shares during the period. Janney Montgomery Scott LLC’s holdings in IQIYI were worth $322,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Canada Pension Plan Investment Board lifted its stake in IQIYI by 0.4% in the second quarter. Canada Pension Plan Investment Board now owns 1,506,000 shares of the company’s stock worth $48,644,000 after purchasing an additional 6,000 shares during the last quarter. Bank of Montreal Can lifted its stake in IQIYI by 538.3% in the third quarter. Bank of Montreal Can now owns 967,735 shares of the company’s stock worth $26,196,000 after purchasing an additional 816,118 shares during the last quarter. LMR Partners LLP bought a new stake in IQIYI in the second quarter worth $9,625,000. Bank of America Corp DE lifted its stake in IQIYI by 16.8% in the second quarter. Bank of America Corp DE now owns 291,901 shares of the company’s stock worth $9,429,000 after purchasing an additional 41,901 shares during the last quarter. Finally, Nepsis Inc. raised its stake in shares of IQIYI by 5.4% during the third quarter. Nepsis Inc. now owns 250,285 shares of the company’s stock valued at $6,775,000 after acquiring an additional 12,755 shares during the last quarter. Institutional investors own 8.25% of the company’s stock.

Shares of NASDAQ IQ opened at $20.73 on Tuesday. IQIYI Inc has a 1 year low of $15.30 and a 1 year high of $46.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.95 and a current ratio of 0.95.

IQIYI (NASDAQ:IQ) last announced its quarterly earnings results on Tuesday, October 30th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.22). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. On average, research analysts forecast that IQIYI Inc will post -2.39 earnings per share for the current year.

IQ has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of IQIYI in a research note on Monday, October 8th. They set a “buy” rating and a $33.00 price objective for the company. CLSA initiated coverage on shares of IQIYI in a research note on Tuesday, September 4th. They set a “buy” rating for the company. ValuEngine downgraded shares of IQIYI from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. Zacks Investment Research downgraded shares of IQIYI from a “buy” rating to a “hold” rating in a research note on Saturday, October 13th. Finally, Credit Suisse Group raised shares of IQIYI from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $30.60.

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IQIYI Company Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

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Institutional Ownership by Quarter for IQIYI (NASDAQ:IQ)

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