Traders Purchase High Volume of Call Options on Qfin (NASDAQ:QFIN)

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFINGet Free Report) saw unusually large options trading activity on Tuesday. Stock investors bought 8,010 call options on the company. This is an increase of approximately 931% compared to the average daily volume of 777 call options.

Insider Buying and Selling

In other Qfin news, Director Xiaohuan Chen acquired 190,000 shares of Qfin stock in a transaction that occurred on Friday, March 27th. The stock was bought at an average price of $12.89 per share, with a total value of $2,449,100.00. Following the completion of the purchase, the director directly owned 190,000 shares of the company’s stock, valued at approximately $2,449,100. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Qfin

Several hedge funds have recently made changes to their positions in the company. Krane Funds Advisors LLC increased its position in shares of Qfin by 25.1% in the 3rd quarter. Krane Funds Advisors LLC now owns 6,344,592 shares of the company’s stock valued at $182,597,000 after acquiring an additional 1,271,942 shares during the period. Triata Capital Ltd grew its position in Qfin by 188.3% during the 4th quarter. Triata Capital Ltd now owns 3,125,331 shares of the company’s stock worth $60,225,000 after purchasing an additional 2,041,351 shares during the period. Dimensional Fund Advisors LP grew its position in Qfin by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,988,999 shares of the company’s stock worth $38,350,000 after purchasing an additional 176,754 shares during the period. Bank of America Corp DE grew its position in Qfin by 48.5% during the 1st quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock worth $25,658,000 after purchasing an additional 649,492 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Qfin by 198.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,842,278 shares of the company’s stock worth $35,501,000 after purchasing an additional 1,224,164 shares during the period. 74.81% of the stock is owned by institutional investors and hedge funds.

Qfin Stock Down 2.2%

Shares of QFIN stock traded down $0.36 during trading hours on Tuesday, reaching $16.55. 3,733,486 shares of the company’s stock were exchanged, compared to its average volume of 1,622,279. The stock’s 50 day moving average is $13.37 and its 200-day moving average is $15.96. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 3.04, a P/E/G ratio of 0.30 and a beta of 0.54. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.03. Qfin has a fifty-two week low of $11.31 and a fifty-two week high of $46.18.

Qfin (NASDAQ:QFINGet Free Report) last released its earnings results on Tuesday, May 26th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08. Qfin had a return on equity of 20.85% and a net margin of 27.48%.The firm had revenue of $567.01 million for the quarter, compared to the consensus estimate of $476.92 million. Analysts predict that Qfin will post 3.82 earnings per share for the current fiscal year.

Qfin Dividend Announcement

The company also recently announced 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 dividend yield of 1,176.0%. The ex-dividend date of this dividend was Wednesday, April 22nd. Qfin’s dividend payout ratio is presently 28.21%.

Analysts Set New Price Targets

A number of brokerages recently commented on QFIN. Bank of America reissued a “neutral” rating and issued a $15.33 price objective on shares of Qfin in a research note on Wednesday, May 27th. Weiss Ratings raised shares of Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group reduced their price target on Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.91.

Check Out Our Latest Analysis on QFIN

About Qfin

(Get Free Report)

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.

Further Reading

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