Qiwi (QIWI) Cut to Sell at BidaskClub

BidaskClub cut shares of Qiwi (NASDAQ:QIWI) from a hold rating to a sell rating in a report issued on Tuesday.

A number of other brokerages have also recently weighed in on QIWI. Zacks Investment Research upgraded shares of Qiwi from a strong sell rating to a hold rating in a research note on Wednesday, October 18th. ValuEngine upgraded shares of Qiwi from a hold rating to a buy rating in a research note on Saturday, October 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $22.67.

Shares of Qiwi (QIWI) traded down $0.42 during trading hours on Tuesday, reaching $16.52. 393,428 shares of the company were exchanged, compared to its average volume of 769,625. The firm has a market cap of $1,010.00, a PE ratio of 22.63 and a beta of 3.23. Qiwi has a 12-month low of $11.60 and a 12-month high of $26.55.

Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Qiwi by 240.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 390,918 shares of the credit services provider’s stock worth $6,470,000 after acquiring an additional 276,068 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Qiwi by 1.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 329,079 shares of the credit services provider’s stock worth $8,122,000 after acquiring an additional 3,823 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Qiwi in the 3rd quarter worth $4,208,000. River & Mercantile Asset Management LLP lifted its stake in shares of Qiwi by 19.6% in the 3rd quarter. River & Mercantile Asset Management LLP now owns 195,567 shares of the credit services provider’s stock worth $3,312,000 after acquiring an additional 32,000 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Qiwi in the 3rd quarter worth $2,719,000. Institutional investors own 17.49% of the company’s stock.

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About Qiwi

QIWI plc is a provider of payment services in Russia and the Commonwealth of Independent States (CIS). The Company’s network enables payment services across physical, online and mobile channels. The Company operates in target markets and customer segments. As of December 31, 2016, the Company had deployed over 17.2 million virtual wallets, over 162,000 kiosks and terminals, and enabled merchants to accept over Russian rubles 70 billion cash and electronic payments monthly.

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