Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN – Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $12.25 and last traded at $12.4010, with a volume of 108619 shares. The stock had previously closed at $12.56.
Wall Street Analyst Weigh In
QFIN has been the topic of a number of research analyst reports. Jefferies Financial Group cut their price objective on shares of Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Weiss Ratings cut shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Qfin presently has a consensus rating of “Reduce” and a consensus price target of $22.20.
Check Out Our Latest Research Report on Qfin
Qfin Trading Down 5.7%
Qfin (NASDAQ:QFIN – Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.59 earnings per share for the quarter. Qfin had a net margin of 31.13% and a return on equity of 24.97%. The firm had revenue of $584.98 million for the quarter. As a group, equities research analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 3.82 earnings per share for the current year.
Qfin Dividend Announcement
The company also recently disclosed a dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 22nd were given a $0.78 dividend. This represents a yield of 1,176.0%. The ex-dividend date was Wednesday, April 22nd. Qfin’s dividend payout ratio (DPR) is 25.00%.
Insiders Place Their Bets
In other news, Director Xiaohuan Chen acquired 190,000 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were purchased at an average cost of $12.89 per share, for a total transaction of $2,449,100.00. Following the transaction, the director directly owned 190,000 shares in the company, valued at approximately $2,449,100. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 17.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Qfin
Hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Qfin during the 1st quarter worth $29,000. SBI Securities Co. Ltd. boosted its position in shares of Qfin by 6,796.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock worth $37,000 after purchasing an additional 1,903 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Qfin by 415.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock worth $51,000 after purchasing an additional 2,125 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Qfin by 24.1% during the 4th quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after purchasing an additional 656 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Qfin by 23.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after purchasing an additional 1,016 shares in the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.
Qfin Company Profile
360 DigiTech, Inc (NASDAQ: QFIN) is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.
The company’s flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.
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