Acadian Asset Management LLC Lowers Stock Holdings in Qfin Holdings Inc. – Sponsored ADR $QFIN

Acadian Asset Management LLC cut its holdings in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 8.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,100,491 shares of the company’s stock after selling 476,983 shares during the quarter. Acadian Asset Management LLC owned about 3.24% of Qfin worth $221,125,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in shares of Qfin during the 1st quarter valued at about $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Qfin in the first quarter worth approximately $29,000. Hantz Financial Services Inc. grew its holdings in Qfin by 472.9% in the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock valued at $32,000 after purchasing an additional 610 shares during the period. Hoey Investments Inc. acquired a new position in Qfin during the second quarter worth approximately $33,000. Finally, iA Global Asset Management Inc. increased its position in Qfin by 250.2% during the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock worth $36,000 after purchasing an additional 588 shares during the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on QFIN. Wall Street Zen lowered shares of Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Weiss Ratings lowered Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Zacks Research downgraded Qfin from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.73.

Qfin Price Performance

Qfin stock opened at $22.28 on Friday. The firm has a fifty day moving average of $27.34 and a 200-day moving average of $35.39. Qfin Holdings Inc. – Sponsored ADR has a 52-week low of $20.45 and a 52-week high of $48.94. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $3.16 billion, a P/E ratio of 3.15, a PEG ratio of 0.23 and a beta of 0.39.

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

Qfin Increases Dividend

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

Qfin 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.