Qfin (NASDAQ:QFIN) Shares Down 5.5% – Here’s What Happened
by Doug Wharley · The Cerbat GemQfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN – Get Free Report) shares were down 5.5% during trading on Friday . The company traded as low as $11.31 and last traded at $11.6850. Approximately 804,887 shares traded hands 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 Analysts Forecast Growth
A number of research analysts recently commented on QFIN shares. Jefferies Financial Group lowered their price objective 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 downgraded shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Qfin presently has an average rating of “Reduce” and an average target price of $22.20.
Read Our Latest Stock Report on Qfin
Qfin Price Performance
The company has a debt-to-equity ratio of 0.07, a current ratio of 2.43 and a quick ratio of 2.43. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 1.88, a PEG ratio of 0.24 and a beta of 0.54. The stock’s 50 day simple moving average is $13.30 and its 200-day simple moving average is $16.38.
Qfin (NASDAQ:QFIN – Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.59 earnings per share 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 during the quarter. On average, analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 3.82 EPS for the current fiscal year.
Qfin Dividend Announcement
The firm also recently declared a dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 22nd were issued a $0.78 dividend. This represents a yield of 1,176.0%. The ex-dividend date of this dividend was Wednesday, April 22nd. Qfin’s payout ratio is 25.00%.
Insider Transactions at Qfin
In other Qfin news, Director Xiaohuan Chen purchased 190,000 shares of the stock in a transaction on Friday, March 27th. The shares were purchased at an average price of $12.89 per share, with a total value of $2,449,100.00. Following the acquisition, the director directly owned 190,000 shares of the company’s stock, valued at $2,449,100. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 17.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On Qfin
Several large investors have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Qfin by 48.5% in the 1st quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock worth $25,658,000 after purchasing an additional 649,492 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Qfin by 247.8% in the 1st quarter. Royal Bank of Canada now owns 24,063 shares of the company’s stock worth $311,000 after purchasing an additional 17,144 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Qfin in the 1st quarter worth about $5,032,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Qfin in the 1st quarter worth about $5,612,000. Finally, Cetera Investment Advisers grew its holdings in shares of Qfin by 39.1% in the 1st quarter. Cetera Investment Advisers now owns 57,028 shares of the company’s stock worth $736,000 after purchasing an additional 16,018 shares during the last quarter. Institutional investors own 74.81% of the company’s stock.
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.