Key Points
- Director Andrew Yan sold 326,700 Qfin shares at an average price of $7.36, generating approximately $2.40 million in proceeds, according to an SEC filing.
- Qfin reported quarterly EPS of $0.55 on revenue of $524.96 million. The company also reduced its dividend to $0.46 per share from $0.78.
- Analyst sentiment remains cautious, with a consensus “Reduce” rating and a $12.29 price target; institutional investors own approximately 74.81% of the stock.
Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report) Director Andrew Yan sold 326,700 shares of the firm's stock in a transaction on Friday, September 25th. The stock was sold at an average price of $7.36, for a total transaction of $2,404,512.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Qfin Trading Down 3.4%
NASDAQ:QFIN opened at $7.05 on Tuesday. The company has a market capitalization of $858.34 million, a P/E ratio of 1.69 and a beta of 0.57. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03. Qfin Holdings Inc. - Sponsored ADR has a 12 month low of $7.03 and a 12 month high of $31.08. The firm has a fifty day simple moving average of $10.66 and a 200-day simple moving average of $12.77.
Qfin (NASDAQ:QFIN - Get Free Report) last released its earnings results on Friday, August 14th. The company reported $0.55 earnings per share (EPS) for the quarter. The firm had revenue of $524.96 million for the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%. On average, equities research analysts anticipate that Qfin Holdings Inc. - Sponsored ADR will post 2.42 earnings per share for the current year.
Qfin Cuts Dividend
The company also recently declared a dividend, which will be paid on Thursday, October 1st. Shareholders of record on Wednesday, September 9th will be paid a dividend of $0.46 per share. This represents a yield of 1,070.0%. The ex-dividend date is Wednesday, September 9th. This is a drop from Qfin's previous dividend of $0.78. Qfin's dividend payout ratio (DPR) is presently 21.63%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on QFIN shares. Zacks Research downgraded Qfin from a "hold" rating to a "strong sell" rating in a report on Friday, August 28th. Jefferies Financial Group restated a "buy" rating and set a $15.40 price objective on shares of Qfin in a research note on Wednesday, August 26th. Morgan Stanley lowered shares of Qfin from an "overweight" rating to an "equal weight" rating and set a $13.00 price objective on the stock. in a research note on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft set a $13.00 target price on shares of Qfin in a report on Wednesday, August 12th. Finally, Weiss Ratings downgraded shares of Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Qfin currently has a consensus rating of "Reduce" and a consensus price target of $12.29.
Check Out Our Latest Stock Report on QFIN
Hedge Funds Weigh In On Qfin
Several institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC lifted its stake in shares of Qfin by 36.1% in the 2nd quarter. Headlands Technologies LLC now owns 76,651 shares of the company's stock valued at $1,212,000 after purchasing an additional 20,320 shares during the period. Wellington Management Group LLP grew its position in Qfin by 128.0% during the second quarter. Wellington Management Group LLP now owns 1,034,463 shares of the company's stock valued at $16,355,000 after buying an additional 580,772 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Qfin during the second quarter valued at $1,573,000. FountainVest China Capital Partners GP3 Ltd. purchased a new position in Qfin in the second quarter valued at $95,483,341. Finally, Ramsey Quantitative Systems purchased a new position in Qfin in the second quarter valued at $207,000. 74.81% of the stock is owned by hedge funds and other institutional investors.
Qfin Company Profile
(
Get Free Report)
Qifu Technology, Inc (NASDAQ: QFIN), formerly known as 360 DigiTech, Inc, is a China-based financial technology company that operates a technology-enabled consumer credit services platform. The company uses data analytics, artificial intelligence and risk-management technologies to help connect consumers seeking credit with financial institutions and other lending partners.
Qifu provides services across the consumer lending process, including customer acquisition, credit assessment, loan facilitation, risk management and post-origination support.
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