Mirae Asset Global Investments Co. Ltd. Decreases Stock Holdings in Qfin Holdings Inc. – Sponsored ADR $QFIN

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 99.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,203 shares of the company’s stock after selling 2,024,103 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Qfin were worth $789,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of QFIN. SVB Wealth LLC purchased a new stake in Qfin during the first quarter valued at $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Qfin during the first quarter valued at $29,000. Hoey Investments Inc. purchased a new stake in shares of Qfin in the second quarter valued at $33,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Qfin in the first quarter valued at $108,000. Finally, Headlands Technologies LLC purchased a new position in shares of Qfin during the 1st quarter worth about $151,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qfin Trading Down 3.2%

QFIN stock opened at $27.00 on Friday. The company has a market capitalization of $3.83 billion, a PE ratio of 3.81, a P/E/G ratio of 0.29 and a beta of 0.42. Qfin Holdings Inc. – Sponsored ADR has a 12 month low of $26.77 and a 12 month high of $48.94. The firm’s 50-day moving average is $30.28 and its 200 day moving average is $37.54. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48.

Qfin (NASDAQ:QFIN) last posted its earnings results on Thursday, August 14th. The company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The business had revenue of $728.00 million for the quarter, compared to analysts’ expectations of $4.68 billion. Qfin had a net margin of 38.66% and a return on equity of 30.74%. On average, research analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current year.

Qfin Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th were given a dividend of $0.76 per share. This is a positive change from Qfin’s previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Monday, September 8th. This represents a yield of 541.0%. Qfin’s payout ratio is 21.19%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Qfin from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. assumed coverage on Qfin in a research report on Wednesday, July 2nd. They set an “overweight” rating and a $65.00 target price for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Qfin in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Qfin presently has an average rating of “Buy” and a consensus target price of $51.73.

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.