Y Intercept Hong Kong Ltd Increases Position in Qfin Holdings Inc. – Sponsored ADR $QFIN

Y Intercept Hong Kong Ltd boosted its holdings in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 929.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,944 shares of the company’s stock after purchasing an additional 140,800 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.10% of Qfin worth $6,762,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Qfin by 193.7% in the second quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 82,378 shares of the company’s stock worth $3,571,000 after purchasing an additional 54,325 shares during the period. Envestnet Asset Management Inc. grew its holdings in Qfin by 19.0% in the second quarter. Envestnet Asset Management Inc. now owns 57,798 shares of the company’s stock worth $2,506,000 after purchasing an additional 9,248 shares during the period. Ethic Inc. grew its holdings in Qfin by 63.0% in the second quarter. Ethic Inc. now owns 12,594 shares of the company’s stock worth $561,000 after purchasing an additional 4,867 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Qfin in the second quarter worth about $212,000. Finally, Aware Super Pty Ltd as trustee of Aware Super grew its holdings in Qfin by 3.2% in the second quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 118,226 shares of the company’s stock worth $5,126,000 after purchasing an additional 3,684 shares during the period. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qfin Trading Down 7.9%

Shares of QFIN stock opened at $24.86 on Tuesday. Qfin Holdings Inc. – Sponsored ADR has a 12-month low of $24.81 and a 12-month high of $48.94. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average is $28.73 and its 200 day moving average is $36.30. The stock has a market capitalization of $3.53 billion, a P/E ratio of 3.51, a P/E/G ratio of 0.28 and a beta of 0.42.

Qfin (NASDAQ:QFIN) last issued its earnings results on Thursday, August 14th. The company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). Qfin had a return on equity of 30.74% and a net margin of 38.66%.The company had revenue of $728.00 million during the quarter, compared to analysts’ expectations of $4.68 billion. Research analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th were given a $0.76 dividend. The ex-dividend date was Monday, September 8th. This is a boost from Qfin’s previous semi-annual dividend of $0.70. This represents a yield of 541.0%. Qfin’s payout ratio is 21.19%.

Analyst Upgrades and Downgrades

QFIN has been the topic of a number of recent research reports. Zacks Research cut shares of Qfin from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. JPMorgan Chase & Co. began coverage on shares of Qfin in a report on Wednesday, July 2nd. They set an “overweight” rating and a $65.00 price target on the stock. Weiss Ratings cut shares of Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. Finally, Wall Street Zen cut shares of Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Qfin has an average rating of “Hold” and an average target price of $51.73.

About Qfin

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.