Hsbc Holdings PLC Sells 316,691 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

Hsbc Holdings PLC lowered its position in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 92.7% in the first quarter, Holdings Channel.com reports. The fund owned 25,060 shares of the company’s stock after selling 316,691 shares during the period. Hsbc Holdings PLC’s holdings in Qfin were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. DGS Capital Management LLC raised its stake in shares of Qfin by 8.8% in the first quarter. DGS Capital Management LLC now owns 10,906 shares of the company’s stock valued at $141,000 after purchasing an additional 878 shares in the last quarter. Turn8 Private Wealth Inc. boosted its stake in Qfin by 11.6% during the first quarter. Turn8 Private Wealth Inc. now owns 137,567 shares of the company’s stock worth $1,776,000 after buying an additional 14,330 shares in the last quarter. QRG Capital Management Inc. bought a new stake in Qfin in the 1st quarter valued at $136,000. Y Intercept Hong Kong Ltd increased its holdings in Qfin by 15.8% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 342,491 shares of the company’s stock valued at $4,422,000 after buying an additional 46,667 shares during the period. Finally, APEIRON CAPITAL Ltd raised its stake in shares of Qfin by 0.4% in the 1st quarter. APEIRON CAPITAL Ltd now owns 1,032,055 shares of the company’s stock valued at $13,324,000 after buying an additional 4,600 shares in the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qfin Stock Performance

QFIN stock opened at $13.88 on Monday. The business has a fifty day moving average price of $14.51 and a 200 day moving average price of $14.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.22 and a quick ratio of 2.22. Qfin Holdings Inc. – Sponsored ADR has a fifty-two week low of $11.31 and a fifty-two week high of $34.95. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 2.54 and a beta of 0.57.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings data on Friday, May 15th. The company reported $1.12 EPS for the quarter. The company had revenue of $567.01 million for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%. Analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 3.85 EPS for the current fiscal year.

Analyst Ratings Changes

QFIN has been the subject of a number of analyst reports. Zacks Research raised shares of Qfin from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings lowered shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Finally, Bank of America restated a “neutral” rating and set a $15.33 price target on shares of Qfin in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.91.

Insider Activity

In other Qfin news, Director Xiaohuan Chen purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average cost of $14.41 per share, with a total value of $57,640.00. Following the completion of the acquisition, the director directly owned 19,000 shares of the company’s stock, valued at $273,790. This represents a 26.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.10% of the stock is owned by corporate 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.