Qfin (NASDAQ:QFIN) Reaches New 12-Month Low – Here’s What Happened

Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) reached a new 52-week low during trading on Thursday . The stock traded as low as $12.25 and last traded at $12.4010, with a volume of 108619 shares changing hands. The stock had previously closed at $12.56.

Analyst Upgrades and Downgrades

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

Qfin Trading Down 0.9%

The company’s 50-day moving average price is $13.34 and its 200-day moving average price is $16.46. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 2.02, a price-to-earnings-growth ratio of 0.24 and a beta of 0.54. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.07.

Qfin (NASDAQ:QFIN) last announced its earnings results on Saturday, February 14th. The company reported $0.59 earnings per share (EPS) for the quarter. Qfin had a net margin of 31.13% and a return on equity of 24.97%. The business had revenue of $584.98 million for the quarter. Equities analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 3.82 EPS for the current fiscal year.

Qfin Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 22nd were issued a dividend of $0.78 per share. The ex-dividend date was Wednesday, April 22nd. This represents a dividend yield of 1,176.0%. Qfin’s dividend payout ratio (DPR) is currently 25.00%.

Insider Activity

In related news, Director Xiaohuan Chen purchased 190,000 shares of Qfin stock in a transaction dated Friday, March 27th. The shares were acquired at an average cost of $12.89 per share, with a total value of $2,449,100.00. Following the purchase, the director owned 190,000 shares of the company’s stock, valued at approximately $2,449,100. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 17.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Qfin

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cape Ann Asset Management Ltd purchased a new stake in shares of Qfin in the 3rd quarter valued at approximately $14,698,000. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Qfin by 741.9% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 579,568 shares of the company’s stock valued at $11,165,000 after acquiring an additional 510,730 shares during the period. Prudential PLC raised its stake in shares of Qfin by 15.8% in the 3rd quarter. Prudential PLC now owns 820,581 shares of the company’s stock valued at $23,616,000 after acquiring an additional 112,087 shares during the period. American Century Companies Inc. raised its stake in shares of Qfin by 20.6% in the 3rd quarter. American Century Companies Inc. now owns 794,274 shares of the company’s stock valued at $22,859,000 after acquiring an additional 135,462 shares during the period. Finally, Krane Funds Advisors LLC raised its stake 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. 74.81% of the stock is owned by hedge funds and other institutional investors.

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.