Meritage Portfolio Management Raises Stake in Qfin Holdings Inc. – Sponsored ADR $QFIN

Meritage Portfolio Management boosted its stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 54.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,969 shares of the company’s stock after purchasing an additional 42,136 shares during the quarter. Meritage Portfolio Management’s holdings in Qfin were worth $2,293,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Qfin during the first quarter valued at about $29,000. PNC Financial Services Group Inc. boosted its position in shares of Qfin by 38.0% in the third quarter. PNC Financial Services Group Inc. now owns 4,342 shares of the company’s stock valued at $125,000 after acquiring an additional 1,195 shares during the period. Farther Finance Advisors LLC grew its stake in Qfin by 703.2% during the third quarter. Farther Finance Advisors LLC now owns 4,538 shares of the company’s stock valued at $131,000 after acquiring an additional 3,973 shares in the last quarter. Royal Bank of Canada grew its stake in Qfin by 51.7% during the first quarter. Royal Bank of Canada now owns 6,508 shares of the company’s stock valued at $293,000 after acquiring an additional 2,219 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Qfin by 59.2% during the 4th quarter. Signaturefd LLC now owns 6,982 shares of the company’s stock worth $135,000 after acquiring an additional 2,597 shares during the period. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Analyst Ratings Changes

QFIN has been the topic of several recent analyst reports. Jefferies Financial Group lowered their target price on shares of Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Weiss Ratings cut shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $22.20.

Qfin Stock Down 1.1%

Shares of NASDAQ QFIN opened at $13.85 on Wednesday. The company has a current ratio of 2.43, a quick ratio of 2.94 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $14.09 and a 200-day moving average of $18.17. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 2.25, a PEG ratio of 0.26 and a beta of 0.51. Qfin Holdings Inc. – Sponsored ADR has a 12 month low of $12.29 and a 12 month high of $47.00.

Qfin (NASDAQ:QFIN) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.59 EPS for the quarter. The business had revenue of $584.98 million for the quarter. Qfin had a net margin of 31.13% and a return on equity of 24.97%. Sell-side analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 3.82 earnings per share for the current fiscal year.

Qfin Announces Dividend

The firm also recently announced a dividend, which will be paid on Thursday, May 14th. Investors of record on Wednesday, April 22nd will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a dividend yield of 1,126.0%. Qfin’s dividend payout ratio (DPR) is currently 24.35%.

Insider Buying and Selling

In other Qfin news, Director Xiaohuan Chen purchased 190,000 shares of the stock in a transaction on Friday, March 27th. The stock was acquired at an average cost of $12.89 per share, with a total value of $2,449,100.00. Following the completion of the purchase, the director directly owned 190,000 shares of the company’s stock, valued at approximately $2,449,100. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.10% of the stock is currently owned by insiders.

About Qfin

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.