Qfin (NASDAQ:QFIN) Trading Down 7.9% – Here’s What Happened

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s stock price traded down 7.9% during mid-day trading on Tuesday . The stock traded as low as $21.17 and last traded at $21.6820. 670,001 shares were traded during mid-day trading, a decline of 63% from the average session volume of 1,790,718 shares. The stock had previously closed at $23.53.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Weiss Ratings cut Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen downgraded Qfin from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Zacks Research cut Qfin from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $51.73.

Qfin Stock Up 0.6%

The stock has a market capitalization of $3.21 billion, a P/E ratio of 3.19, a PEG ratio of 0.23 and a beta of 0.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48. The stock’s fifty day moving average is $27.48 and its two-hundred day moving average is $35.50.

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

Qfin Increases Dividend

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

Institutional Investors Weigh In On Qfin

Several hedge funds have recently modified their holdings of QFIN. Aspex Management HK Ltd lifted its holdings in shares of Qfin by 30.5% during the second quarter. Aspex Management HK Ltd now owns 6,612,366 shares of the company’s stock valued at $286,712,000 after purchasing an additional 1,547,312 shares during the last quarter. Keystone Investors PTE Ltd. purchased a new stake in shares of Qfin during the first quarter valued at $52,814,000. Norges Bank purchased a new stake in Qfin in the 2nd quarter worth about $43,265,000. JPMorgan Chase & Co. lifted its stake in Qfin by 116.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,376,477 shares of the company’s stock worth $59,684,000 after acquiring an additional 740,888 shares in the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. lifted its stake in Qfin by 22.6% in the 2nd quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,295,438 shares of the company’s stock worth $142,890,000 after acquiring an additional 606,446 shares in the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.

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.