Qfin Holdings Inc. – Sponsored ADR $QFIN Position Cut by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 25.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 171,489 shares of the company’s stock after selling 57,857 shares during the period. Federated Hermes Inc.’s holdings in Qfin were worth $4,935,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Aspex Management HK Ltd boosted its stake in Qfin by 30.5% during the 2nd quarter. Aspex Management HK Ltd now owns 6,612,366 shares of the company’s stock valued at $286,712,000 after purchasing an additional 1,547,312 shares during the period. Norges Bank bought a new stake in shares of Qfin during the second quarter valued at approximately $43,265,000. JPMorgan Chase & Co. raised its holdings in shares of Qfin by 116.6% during the second quarter. JPMorgan Chase & Co. now owns 1,376,477 shares of the company’s stock valued at $59,684,000 after buying an additional 740,888 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. increased its position in Qfin by 22.6% in the 2nd quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,295,438 shares of the company’s stock valued at $142,890,000 after acquiring an additional 606,446 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Qfin by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock worth $72,028,000 after acquiring an additional 395,589 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Zacks Research cut shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. JPMorgan Chase & Co. cut shares of Qfin from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $45.00 to $21.00 in a research note on Wednesday, November 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Qfin in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.85.

Qfin Trading Down 0.1%

Shares of QFIN stock opened at $15.53 on Tuesday. The stock has a 50-day simple moving average of $18.39 and a 200 day simple moving average of $25.09. The stock has a market capitalization of $2.21 billion, a P/E ratio of 2.26, a P/E/G ratio of 0.23 and a beta of 0.43. Qfin Holdings Inc. – Sponsored ADR has a fifty-two week low of $15.30 and a fifty-two week high of $48.94. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings data 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 net margin of 35.09% and a return on equity of 28.73%. The business had revenue of $731.04 million for the quarter, compared to the consensus estimate of $693.21 million. On average, sell-side analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

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.