Qfin (NASDAQ:QFIN) Shares Down 5.5% – Here’s What Happened

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s stock price dropped 5.5% during trading on Friday . The company traded as low as $11.31 and last traded at $11.6850. Approximately 804,887 shares were traded during trading, a decline of 43% from the average daily volume of 1,414,851 shares. The stock had previously closed at $12.36.

Wall Street Analyst Weigh In

QFIN has been the topic of a number of research analyst reports. Jefferies Financial Group decreased their price objective on shares of Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Weiss Ratings downgraded shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $22.20.

Qfin Trading Down 6.8%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.43 and a current ratio of 2.43. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 1.88, a P/E/G ratio of 0.24 and a beta of 0.54. The business’s 50-day simple moving average is $13.30 and its 200-day simple moving average is $16.38.

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

Qfin Announces Dividend

The company also recently declared 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 was Wednesday, April 22nd. Qfin’s dividend payout ratio (DPR) is currently 25.00%.

Insider Buying and Selling at Qfin

In other news, Director Xiaohuan Chen purchased 190,000 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The shares were acquired at an average cost of $12.89 per share, for a total transaction of $2,449,100.00. Following the transaction, the director directly owned 190,000 shares of the company’s stock, valued at approximately $2,449,100. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 17.10% of the stock is owned by corporate insiders.

Institutional Trading of Qfin

A number of hedge funds have recently modified their holdings of QFIN. Royal Bank of Canada raised its holdings in Qfin by 51.7% during the 1st quarter. Royal Bank of Canada now owns 6,508 shares of the company’s stock worth $293,000 after buying an additional 2,219 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Qfin during the 1st quarter worth approximately $29,000. Goldman Sachs Group Inc. raised its holdings in Qfin by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock worth $72,028,000 after buying an additional 395,589 shares during the period. California State Teachers Retirement System raised its holdings in Qfin by 333.8% during the 2nd quarter. California State Teachers Retirement System now owns 34,810 shares of the company’s stock worth $1,509,000 after buying an additional 26,786 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in Qfin by 31.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,179 shares of the company’s stock worth $264,000 after buying an additional 2,206 shares during the period. 74.81% of the stock is currently owned by institutional investors and hedge funds.

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.