Stock Traders Purchase Large Volume of Call Options on Qfin (NASDAQ:QFIN)

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) saw some unusual options trading on Friday. Traders acquired 9,021 call options on the company. This represents an increase of approximately 989% compared to the typical daily volume of 828 call options.

Analysts Set New Price Targets

QFIN has been the topic of several recent analyst reports. Bank of America restated a “neutral” rating and set a $15.33 price objective on shares of Qfin in a research note on Wednesday, May 27th. Jefferies Financial Group lowered their target price on shares of Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a report on Wednesday, March 18th. Finally, Weiss Ratings raised shares of Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Qfin has a consensus rating of “Hold” and a consensus target price of $19.91.

Qfin Stock Performance

Shares of QFIN stock traded down $1.39 during trading hours on Friday, hitting $13.49. 1,711,297 shares of the company were exchanged, compared to its average volume of 1,520,595. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 2.47 and a beta of 0.57. The firm has a fifty day simple moving average of $14.43 and a 200 day simple moving average of $15.05. Qfin has a 52-week low of $11.31 and a 52-week high of $43.56.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings data on Friday, May 15th. The company reported $1.12 EPS for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%.The business had revenue of $567.01 million for the quarter. Research analysts predict that Qfin will post 3.79 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Xiaohuan Chen bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average price of $14.41 per share, with a total value of $57,640.00. Following the completion of the transaction, the director directly owned 19,000 shares in the company, valued at approximately $273,790. This represents a 26.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Qfin in the 1st quarter worth about $29,000. Parallel Advisors LLC boosted its position in Qfin by 24.1% during the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after purchasing an additional 656 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Qfin by 14.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,600 shares of the company’s stock worth $108,000 after purchasing an additional 700 shares in the last quarter. DGS Capital Management LLC increased 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 worth $141,000 after purchasing an additional 878 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ raised its position in shares of Qfin by 5.4% in the fourth quarter. Lansforsakringar Fondforvaltning AB publ now owns 19,600 shares of the company’s stock valued at $378,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 74.81% of the company’s stock.

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.