iQIYI Sees Unusually Large Options Volume (NASDAQ:IQ)

iQIYI Sees Unusually Large Options Volume (NASDAQ:IQ)

iQIYI, Inc. (NASDAQ:IQ – Get Rating) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 13,543 put options on the company. This represents an increase of approximately 131% compared to the average daily volume of 5,860 put options.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. UBS Group raised iQIYI from a “neutral” rating to a “buy” rating and set a $4.80 target price for the company in a research note on Thursday, September 1st. Macquarie began coverage on shares of iQIYI in a research report on Tuesday, August 23rd. They issued an “underperform” rating and a $2.80 target price on the stock. JPMorgan Chase & Co. began coverage on shares of iQIYI in a research report on Wednesday, September 7th. They issued an “overweight” rating and a $7.00 target price on the stock. Benchmark decreased their target price on shares of iQIYI from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 31st. Finally, Citigroup decreased their target price on shares of iQIYI from $6.50 to $4.00 and set a “buy” rating on the stock in a research report on Friday, October 14th. Two equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.09.

iQIYI Trading Down 13.7 %

Shares of IQ stock traded down $0.39 during mid-day trading on Tuesday, reaching $2.45. The stock had a trading volume of 602,979 shares, compared to its average volume of 14,442,309. The stock’s 50-day moving average price is $2.58 and its two-hundred day moving average price is $3.47. iQIYI has a 52-week low of $1.65 and a 52-week high of $6.94. The firm has a market capitalization of $1.96 billion, a PE ratio of -3.70 and a beta of 0.70. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.92.

iQIYI (NASDAQ:IQ – Get Rating) last released its quarterly earnings data on Tuesday, August 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. iQIYI had a negative net margin of 12.33% and a negative return on equity of 48.03%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company earned ($0.27) earnings per share. Equities analysts expect that iQIYI will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iQIYI

A number of hedge funds have recently modified their holdings of the company. Bluefin Capital Management LLC boosted its stake in iQIYI by 212.5% during the second quarter. Bluefin Capital Management LLC now owns 11,252 shares of the company’s stock worth $50,000 after acquiring an additional 21,252 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of iQIYI by 206.4% during the third quarter. Quadrant Capital Group LLC now owns 18,928 shares of the company’s stock valued at $51,000 after purchasing an additional 12,751 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of iQIYI by 1,404.1% during the second quarter. Cubist Systematic Strategies LLC now owns 13,101 shares of the company’s stock valued at $55,000 after purchasing an additional 12,230 shares during the last quarter. Yousif Capital Management LLC purchased a new position in shares of iQIYI during the second quarter valued at approximately $58,000. Finally, Comerica Bank bought a new stake in shares of iQIYI during the 2nd quarter valued at $60,000. Hedge funds and other institutional investors own 44.85% of the company’s stock.

iQIYI Company Profile

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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