Hsbc Holdings PLC lessened its stake in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN – Free Report) by 32.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 341,751 shares of the company’s stock after selling 162,174 shares during the quarter. Hsbc Holdings PLC’s holdings in Qfin were worth $6,588,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Qfin during the first quarter worth approximately $29,000. SBI Securities Co. Ltd. raised its position in shares of Qfin by 6,796.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after purchasing an additional 1,903 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Qfin by 415.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock worth $51,000 after buying an additional 2,125 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Qfin by 24.1% in the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after buying an additional 656 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings 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 buying an additional 1,016 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on QFIN shares. Weiss Ratings raised Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Jefferies Financial Group cut their price objective on Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Finally, Bank of America restated a “neutral” rating and set a $15.33 target price on shares of Qfin in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Qfin currently has an average rating of “Hold” and an average price target of $19.91.
Insider Buying and Selling
In other news, Director Xiaohuan Chen acquired 4,000 shares of Qfin stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $14.41 per share, for a total transaction of $57,640.00. Following the transaction, the director owned 19,000 shares of the company’s stock, valued at $273,790. The trade was a 26.67% increase in their ownership of the stock. The purchase 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.
Qfin Stock Performance
NASDAQ:QFIN opened at $15.81 on Friday. The firm’s 50-day moving average is $14.09 and its 200-day moving average is $15.33. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 2.90 and a beta of 0.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22. Qfin Holdings Inc. – Sponsored ADR has a 52-week low of $11.31 and a 52-week high of $45.05.
Qfin (NASDAQ:QFIN – Get Free Report) last released its earnings results on Friday, May 15th. The company reported $1.12 earnings per share for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. The business had revenue of $567.01 million during the quarter. Equities research analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 3.79 earnings per share for the current year.
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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