Qfin (NASDAQ:QFIN) Director Andrew Yan Sells 326,700 Shares of Stock

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) Director Andrew Yan sold 326,700 shares of the firm’s stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $7.36, for a total transaction of $2,404,512.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Qfin Stock Performance

Qfin stock opened at $7.05 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.17 and a current ratio of 2.17. The company has a market capitalization of $858.34 million, a PE ratio of 1.69 and a beta of 0.57. The company has a 50 day moving average price of $10.66 and a 200-day moving average price of $12.77. Qfin Holdings Inc. – Sponsored ADR has a fifty-two week low of $7.03 and a fifty-two week high of $31.08.

Qfin (NASDAQ:QFIN) last released its quarterly earnings data on Friday, August 14th. The company reported $0.55 EPS for the quarter. The company had revenue of $524.96 million for the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%. As a group, equities analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 2.42 earnings per share for the current year.

Qfin Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 1st. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.46 per share. This represents a dividend yield of 1,070.0%. The ex-dividend date of this dividend is Wednesday, September 9th. This is a negative change from Qfin’s previous dividend of $0.78. Qfin’s dividend payout ratio is currently 21.63%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Bank of America restated a “neutral” rating on shares of Qfin in a report on Thursday, September 10th. Morgan Stanley lowered shares of Qfin from an “overweight” rating to an “equal weight” rating and set a $13.00 price target for the company. in a report on Wednesday, August 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $15.40 price target on shares of Qfin in a research report on Wednesday, August 26th. Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Friday, August 28th. Finally, Citigroup lowered shares of Qfin from a “buy” rating to a “sell” rating and set a $8.00 price objective on the stock. in a report on Wednesday, August 26th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $12.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QFIN. FountainVest China Capital Partners GP3 Ltd. purchased a new stake in Qfin in the second quarter valued at about $95,483,341. Triata Capital Ltd grew its stake in shares of Qfin by 188.3% during the fourth quarter. Triata Capital Ltd now owns 3,125,331 shares of the company’s stock worth $60,225,000 after acquiring an additional 2,041,351 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Qfin by 48.5% during the first quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock worth $25,658,000 after acquiring an additional 649,492 shares during the last quarter. Norges Bank acquired a new position in shares of Qfin during the fourth quarter valued at about $30,436,000. Finally, Wellington Management Group LLP increased its holdings in shares of Qfin by 128.0% during the second quarter. Wellington Management Group LLP now owns 1,034,463 shares of the company’s stock valued at $16,355,000 after acquiring an additional 580,772 shares in the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qfin Company Profile

Qifu Technology, Inc (NASDAQ: QFIN), formerly known as 360 DigiTech, Inc, is a China-based financial technology company that operates a technology-enabled consumer credit services platform. The company uses data analytics, artificial intelligence and risk-management technologies to help connect consumers seeking credit with financial institutions and other lending partners.

Qifu provides services across the consumer lending process, including customer acquisition, credit assessment, loan facilitation, risk management and post-origination support.