New York State Common Retirement Fund Increases Stock Position in Qfin Holdings Inc. – Sponsored ADR $QFIN

New York State Common Retirement Fund increased its holdings in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 12.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 449,925 shares of the company’s stock after purchasing an additional 49,500 shares during the period. New York State Common Retirement Fund’s holdings in Qfin were worth $19,509,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. SVB Wealth LLC purchased a new stake in Qfin during the first quarter worth $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Qfin in the 1st quarter worth $29,000. Hantz Financial Services Inc. lifted its stake in shares of Qfin by 472.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock worth $32,000 after purchasing an additional 610 shares during the last quarter. Hoey Investments Inc. purchased a new stake in shares of Qfin during the 2nd quarter worth $33,000. Finally, iA Global Asset Management Inc. boosted its position in Qfin by 250.2% during the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock valued at $36,000 after purchasing an additional 588 shares in the last quarter. Institutional investors own 74.81% of the company’s stock.

Analysts Set New Price Targets

QFIN has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of Qfin from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $45.00 to $21.00 in a report on Wednesday, November 19th. Zacks Research upgraded shares of Qfin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Wall Street Zen cut shares of Qfin from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Weiss Ratings lowered shares of Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $36.85.

Qfin Stock Performance

QFIN opened at $19.59 on Wednesday. The company has a market cap of $2.78 billion, a P/E ratio of 2.86, a price-to-earnings-growth ratio of 0.21 and a beta of 0.40. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $24.40 and its 200-day moving average price is $32.72. Qfin Holdings Inc. – Sponsored ADR has a 52-week low of $17.61 and a 52-week high of $48.94.

Qfin (NASDAQ:QFIN) last released its earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.16). Qfin had a return on equity of 28.73% and a net margin of 35.09%.The company had revenue of $731.04 million for the quarter, compared to analysts’ expectations of $693.21 million. As a group, equities analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current fiscal year.

Qfin Company Profile

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.