Matthews International Capital Management LLC Acquires 49,707 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

Matthews International Capital Management LLC lifted its stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 18.2% during the 3rd quarter, Holdings Channel reports. The firm owned 322,848 shares of the company’s stock after acquiring an additional 49,707 shares during the period. Qfin makes up 2.2% of Matthews International Capital Management LLC’s holdings, making the stock its 16th biggest holding. Matthews International Capital Management LLC’s holdings in Qfin were worth $9,292,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in QFIN. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Qfin by 193.7% in the 2nd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 82,378 shares of the company’s stock valued at $3,571,000 after buying an additional 54,325 shares during the period. Y Intercept Hong Kong Ltd raised its stake in Qfin by 929.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 155,944 shares of the company’s stock worth $6,762,000 after buying an additional 140,800 shares during the period. Virtus Family Office LLC bought a new position in Qfin during the second quarter worth about $1,428,000. Jupiter Asset Management Ltd. grew its stake in Qfin by 2,878.6% in the second quarter. Jupiter Asset Management Ltd. now owns 390,200 shares of the company’s stock valued at $16,919,000 after acquiring an additional 377,100 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Qfin by 183.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 888,680 shares of the company’s stock worth $39,911,000 after acquiring an additional 575,545 shares in the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Qfin Trading Up 1.0%

NASDAQ:QFIN opened at $20.00 on Friday. The company has a market cap of $2.84 billion, a P/E ratio of 2.92, a price-to-earnings-growth ratio of 0.23 and a beta of 0.40. Qfin Holdings Inc. – Sponsored ADR has a twelve month low of $17.61 and a twelve month high of $48.94. The business has a 50 day moving average price of $21.14 and a two-hundred day moving average price of $29.89. 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 announced its quarterly earnings data on Tuesday, November 18th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.16). Qfin had a return on equity of 28.73% and a net margin of 35.09%.The business had revenue of $731.04 million during the quarter, compared to the consensus estimate of $693.21 million. As a group, analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on QFIN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Qfin in a research report on Monday, December 22nd. JPMorgan Chase & Co. cut shares of Qfin from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $45.00 to $21.00 in a report on Wednesday, November 19th. Finally, Zacks Research lowered shares of Qfin from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Qfin has an average rating of “Hold” and a consensus target price of $36.85.

Qfin 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.