Qfin Holdings Inc. – Sponsored ADR $QFIN Shares Sold by Bayforest Capital Ltd

Bayforest Capital Ltd decreased its holdings in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 84.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,009 shares of the company’s stock after selling 5,574 shares during the quarter. Bayforest Capital Ltd’s holdings in Qfin were worth $45,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Krane Funds Advisors LLC raised its stake in Qfin by 24.4% during the first quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company’s stock worth $315,849,000 after acquiring an additional 1,381,624 shares during the period. Vanguard Group Inc. raised its stake in Qfin by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,572,985 shares of the company’s stock worth $205,373,000 after acquiring an additional 31,155 shares during the period. Alliancebernstein L.P. raised its stake in Qfin by 20.8% during the first quarter. Alliancebernstein L.P. now owns 2,901,566 shares of the company’s stock worth $130,309,000 after acquiring an additional 500,573 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Qfin by 10,812.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company’s stock worth $91,720,000 after acquiring an additional 2,023,590 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Qfin by 32.7% during the first 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.

Qfin Trading Down 1.5%

Qfin stock opened at $28.36 on Friday. The firm has a 50 day simple moving average of $34.30 and a 200-day simple moving average of $39.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48. The stock has a market capitalization of $4.47 billion, a PE ratio of 4.01, a price-to-earnings-growth ratio of 0.29 and a beta of 0.45. Qfin Holdings Inc. – Sponsored ADR has a 12-month low of $24.78 and a 12-month high of $48.94.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings data on Thursday, August 14th. The company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $728.00 million during the quarter, compared to the consensus estimate of $4.68 billion. Qfin had a net margin of 38.66% and a return on equity of 30.74%. As a group, equities research analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current fiscal year.

Qfin Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be issued a $0.76 dividend. This represents a dividend yield of 541.0%. This is a boost from Qfin’s previous semi-annual dividend of $0.70. The ex-dividend date is Monday, September 8th. Qfin’s payout ratio is 21.19%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Qfin in a research note on Wednesday, July 2nd. They set an “overweight” rating and a $65.00 price objective on the stock. Wall Street Zen lowered shares of Qfin from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $51.73.

About Qfin

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.