KBC Group NV Purchases 26,337 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

KBC Group NV boosted its holdings in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 10.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 271,297 shares of the company’s stock after acquiring an additional 26,337 shares during the quarter. KBC Group NV owned approximately 0.17% of Qfin worth $11,763,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in QFIN. SVB Wealth LLC acquired a new stake in shares of Qfin in the first quarter valued at about $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Qfin during the 1st quarter valued at approximately $29,000. Hantz Financial Services Inc. boosted its stake in Qfin by 472.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock valued at $32,000 after purchasing an additional 610 shares during the period. Hoey Investments Inc. acquired a new stake in Qfin in the 2nd quarter valued at approximately $33,000. Finally, iA Global Asset Management Inc. increased its position in Qfin by 250.2% in the 2nd quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock worth $36,000 after buying an additional 588 shares during the period. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qfin Stock Performance

Shares of NASDAQ QFIN opened at $22.44 on Friday. Qfin Holdings Inc. – Sponsored ADR has a one year low of $20.45 and a one year 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 business has a fifty day simple moving average of $26.74 and a 200 day simple moving average of $34.82. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 3.17, a PEG ratio of 0.24 and a beta of 0.39.

Qfin (NASDAQ:QFIN) last announced its quarterly 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). The business had revenue of $728.00 million during the quarter, compared to the consensus estimate of $4.68 billion. Qfin had a net margin of 38.66% and a return on equity of 30.74%. Sell-side analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Zacks Research cut Qfin from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Wall Street Zen cut shares of Qfin from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Weiss Ratings lowered shares of Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.