Qfin (NASDAQ:QFIN) Issues Earnings Results

Qfin (NASDAQ:QFIN) posted its quarterly earnings data on Tuesday. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.16), Zacks reports. Qfin had a return on equity of 30.74% and a net margin of 38.66%.

Qfin Stock Up 0.9%

QFIN stock traded up $0.21 during midday trading on Tuesday, reaching $22.42. The company had a trading volume of 2,112,645 shares, compared to its average volume of 1,782,462. The company has a 50 day moving average of $26.62 and a two-hundred day moving average of $34.61. The company has a market capitalization of $3.18 billion, a P/E ratio of 3.17, a PEG ratio of 0.23 and a beta of 0.39. Qfin has a 1 year low of $20.45 and a 1 year high of $48.94. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Wall Street Zen lowered shares of Qfin from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Weiss Ratings cut Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $51.73.

Institutional Investors Weigh In On Qfin

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in Qfin by 51.7% in the first quarter. Royal Bank of Canada now owns 6,508 shares of the company’s stock worth $293,000 after buying an additional 2,219 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Qfin in the first quarter worth approximately $29,000. Goldman Sachs Group Inc. increased its stake in shares of Qfin by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock worth $72,028,000 after purchasing an additional 395,589 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Qfin by 333.8% during the 2nd quarter. California State Teachers Retirement System now owns 34,810 shares of the company’s stock valued at $1,509,000 after purchasing an additional 26,786 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Qfin by 89.2% in the 3rd quarter. Barclays PLC now owns 466,449 shares of the company’s stock valued at $13,424,000 after purchasing an additional 219,929 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qfin Company Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.