Meritage Portfolio Management Increases Position in Qfin Holdings Inc. – Sponsored ADR $QFIN

Meritage Portfolio Management increased its holdings in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 54.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,969 shares of the company’s stock after acquiring an additional 42,136 shares during the period. Meritage Portfolio Management owned about 0.08% of Qfin worth $2,293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Krane Funds Advisors LLC boosted its position in Qfin by 25.1% in the third quarter. Krane Funds Advisors LLC now owns 6,344,592 shares of the company’s stock worth $182,597,000 after purchasing an additional 1,271,942 shares during the last quarter. Swedbank AB increased its position in shares of Qfin by 24.2% during the 3rd quarter. Swedbank AB now owns 1,660,064 shares of the company’s stock valued at $47,777,000 after purchasing an additional 323,664 shares during the last quarter. Goldman Sachs Group Inc. increased its position 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 valued at $72,028,000 after purchasing an additional 395,589 shares during the last quarter. Yunqi Capital Ltd raised its stake in shares of Qfin by 4.6% during the 3rd quarter. Yunqi Capital Ltd now owns 1,071,630 shares of the company’s stock worth $30,842,000 after purchasing an additional 47,000 shares during the period. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Qfin by 78.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,008,011 shares of the company’s stock worth $29,011,000 after buying an additional 442,550 shares during the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Weiss Ratings downgraded shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Jefferies Financial Group dropped their target price on shares of Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $22.20.

Insiders Place Their Bets

In other Qfin news, Director Xiaohuan Chen bought 190,000 shares of the stock in a transaction on Friday, March 27th. The shares were acquired at an average price of $12.89 per share, with a total value of $2,449,100.00. Following the acquisition, the director directly owned 190,000 shares of the company’s stock, valued at $2,449,100. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.10% of the company’s stock.

Qfin Trading Down 1.1%

Shares of QFIN opened at $13.85 on Wednesday. Qfin Holdings Inc. – Sponsored ADR has a fifty-two week low of $12.29 and a fifty-two week high of $47.00. The business has a 50-day moving average of $14.09 and a 200 day moving average of $18.17. The firm has a market cap of $1.97 billion, a P/E ratio of 2.25, a price-to-earnings-growth ratio of 0.26 and a beta of 0.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.94 and a current ratio of 2.43.

Qfin (NASDAQ:QFIN) last issued its earnings results 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 during the quarter. As a group, research analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 3.82 EPS for the current year.

Qfin Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, May 14th. Investors of record on Wednesday, April 22nd will be paid a $0.78 dividend. This represents a yield of 1,126.0%. The ex-dividend date is Wednesday, April 22nd. Qfin’s payout ratio is currently 24.35%.

About Qfin

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.