IQIYI Inc (NASDAQ:IQ) Shares Sold by Nepsis Inc.

Nepsis Inc. reduced its stake in IQIYI Inc (NASDAQ:IQ) by 7.3% during the 2nd quarter, Holdings Channel reports. The fund owned 356,501 shares of the company’s stock after selling 28,136 shares during the quarter. IQIYI makes up approximately 4.1% of Nepsis Inc.’s investment portfolio, making the stock its 11th biggest position. Nepsis Inc.’s holdings in IQIYI were worth $7,369,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bellecapital International Ltd. lifted its position in IQIYI by 73.6% in the second quarter. Bellecapital International Ltd. now owns 17,382 shares of the company’s stock valued at $359,000 after purchasing an additional 7,370 shares during the period. Nwam LLC lifted its position in IQIYI by 104.4% in the second quarter. Nwam LLC now owns 29,708 shares of the company’s stock valued at $613,000 after purchasing an additional 15,173 shares during the period. Ocean Arete Ltd. acquired a new stake in IQIYI in the second quarter valued at about $6,110,000. NEXT Financial Group Inc lifted its position in IQIYI by 756.1% in the second quarter. NEXT Financial Group Inc now owns 3,082 shares of the company’s stock valued at $64,000 after purchasing an additional 2,722 shares during the period. Finally, AdvisorNet Financial Inc acquired a new stake in IQIYI in the second quarter valued at about $25,000. Institutional investors and hedge funds own 19.68% of the company’s stock.

IQ stock opened at $17.86 on Friday. The firm’s 50 day moving average is $19.14. IQIYI Inc has a 12-month low of $14.35 and a 12-month high of $32.46. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $13.73 billion, a P/E ratio of -7.23 and a beta of 3.01.

IQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Thursday, May 16th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.17. IQIYI had a negative net margin of 38.72% and a negative return on equity of 52.01%. The company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.89 billion. During the same period last year, the firm earned ($0.31) EPS. The company’s revenue for the quarter was up 43.0% on a year-over-year basis. As a group, equities research analysts expect that IQIYI Inc will post -1.41 earnings per share for the current year.

IQ has been the subject of a number of recent analyst reports. KeyCorp initiated coverage on shares of IQIYI in a research report on Monday. They issued a “sector weight” rating and a $21.00 price objective for the company. Zacks Investment Research downgraded shares of IQIYI from a “buy” rating to a “hold” rating in a research report on Wednesday. Loop Capital assumed coverage on shares of IQIYI in a research report on Monday, June 3rd. They set a “hold” rating and a $20.00 price target for the company. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of IQIYI in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $24.29.

About IQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand 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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