Turn8 Private Wealth Inc. Buys Shares of 123,237 Qfin Holdings Inc. – Sponsored ADR $QFIN

Turn8 Private Wealth Inc. purchased a new position in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 123,237 shares of the company’s stock, valued at approximately $2,375,000. Turn8 Private Wealth Inc. owned about 0.09% of Qfin at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Qfin in the first quarter worth $29,000. SBI Securities Co. Ltd. raised its holdings 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 worth $37,000 after buying an additional 1,903 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Qfin by 23.4% in the fourth 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 last quarter. Signaturefd LLC raised its holdings in shares of Qfin by 59.2% in the fourth quarter. Signaturefd LLC now owns 6,982 shares of the company’s stock worth $135,000 after buying an additional 2,597 shares during the last quarter. Finally, Legacy Financial Advisors Inc. purchased a new position in shares of Qfin in the third quarter worth $201,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Xiaohuan Chen acquired 190,000 shares of the business’s stock in a transaction on Friday, March 27th. The stock was bought at an average price of $12.89 per share, with a total value of $2,449,100.00. Following the completion of the acquisition, the director owned 190,000 shares of the company’s stock, valued at approximately $2,449,100. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 17.10% of the company’s stock.

Qfin Stock Up 4.6%

QFIN opened at $16.08 on Friday. Qfin Holdings Inc. – Sponsored ADR has a fifty-two week low of $11.31 and a fifty-two week high of $46.18. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.43 and a current ratio of 2.22. The company has a fifty day moving average of $13.29 and a two-hundred day moving average of $16.06. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 2.95, a PEG ratio of 0.30 and a beta of 0.54.

Qfin (NASDAQ:QFIN) last released its quarterly earnings data on Tuesday, May 26th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Qfin had a net margin of 27.48% and a return on equity of 20.85%. The company had revenue of $567.01 million during the quarter, compared to analysts’ expectations of $476.92 million. On average, research analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 3.82 earnings per share for the current year.

Qfin Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 22nd were issued a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a yield of 1,176.0%. Qfin’s payout ratio is presently 28.21%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Bank of America reaffirmed a “neutral” rating and issued a $15.33 price target on shares of Qfin in a report on Wednesday. Jefferies Financial Group decreased their price target on shares of Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a report on Wednesday, March 18th. Finally, Weiss Ratings raised shares of Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Qfin currently has a consensus rating of “Hold” and a consensus target price of $19.91.

Qfin 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.