VIRGINIA RETIREMENT SYSTEMS ET Al Invests $212,000 in Qfin Holdings Inc. – Sponsored ADR $QFIN

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,900 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QFIN. SVB Wealth LLC purchased a new position in Qfin in the first quarter valued at about $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Qfin in the first quarter valued at about $29,000. Hoey Investments Inc. purchased a new position in Qfin in the second quarter valued at about $33,000. Caitong International Asset Management Co. Ltd purchased a new position in Qfin in the first quarter valued at about $108,000. Finally, Headlands Technologies LLC purchased a new position in Qfin in the first quarter valued at about $151,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qfin Trading Up 1.8%

Qfin stock opened at $26.99 on Monday. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 3.81, a price-to-earnings-growth ratio of 0.28 and a beta of 0.42. Qfin Holdings Inc. – Sponsored ADR has a 12 month low of $24.83 and a 12 month high of $48.94. The business has a 50 day moving average price of $28.83 and a two-hundred day moving average price of $36.39. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.20.

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

Qfin Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 8th were given a $0.76 dividend. This represents a yield of 541.0%. This is an increase from Qfin’s previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Monday, September 8th. Qfin’s dividend payout ratio (DPR) is 21.19%.

Analyst Upgrades and Downgrades

QFIN has been the topic of a number of recent research reports. Wall Street Zen downgraded Qfin from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Weiss Ratings downgraded Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday. JPMorgan Chase & Co. began coverage on Qfin in a research note on Wednesday, July 2nd. They set an “overweight” rating and a $65.00 price target for the company. Finally, Zacks Research downgraded Qfin from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.73.

Qfin Company Profile

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.