Krane Funds Advisors LLC Sells 674,901 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

Krane Funds Advisors LLC decreased its holdings in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,669,691 shares of the company’s stock after selling 674,901 shares during the quarter. Qfin accounts for about 3.5% of Krane Funds Advisors LLC’s holdings, making the stock its 9th largest holding. Krane Funds Advisors LLC owned 3.99% of Qfin worth $109,255,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. WINTON GROUP Ltd acquired a new position in shares of Qfin during the 4th quarter worth approximately $262,000. Parallel Advisors LLC increased its holdings in Qfin by 24.1% in the 4th quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after acquiring an additional 656 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Qfin by 14.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,600 shares of the company’s stock worth $108,000 after acquiring an additional 700 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Qfin by 198.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,842,278 shares of the company’s stock worth $35,501,000 after acquiring an additional 1,224,164 shares during the period. Finally, Turn8 Private Wealth Inc. purchased a new position in Qfin during the fourth quarter valued at $2,375,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Xiaohuan Chen bought 190,000 shares of the company’s stock in a transaction on Friday, March 27th. The stock was bought at an average cost of $12.89 per share, with a total value of $2,449,100.00. Following the transaction, the director directly owned 190,000 shares in the company, valued at $2,449,100. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on QFIN shares. Weiss Ratings raised shares of Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Jefferies Financial Group cut their price objective on Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Finally, Bank of America restated a “neutral” rating and issued a $15.33 target price on shares of Qfin in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Qfin presently has a consensus rating of “Hold” and a consensus price target of $19.91.

Qfin Price Performance

QFIN stock opened at $14.53 on Monday. Qfin Holdings Inc. – Sponsored ADR has a 1 year low of $11.31 and a 1 year high of $46.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.22 and a quick ratio of 2.22. The firm has a market capitalization of $1.77 billion, a PE ratio of 2.66, a price-to-earnings-growth ratio of 0.27 and a beta of 0.61. The business has a 50 day simple moving average of $13.54 and a 200-day simple moving average of $15.75.

Qfin (NASDAQ:QFIN) last released its quarterly earnings results on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. The business had revenue of $567.01 million for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. Equities research analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 3.79 earnings per share for the current fiscal year.

Qfin Announces Dividend

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

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.