CenterBook Partners LP Reduces Position in Qfin Holdings Inc. – Sponsored ADR $QFIN

CenterBook Partners LP trimmed its holdings in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 72.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,565 shares of the company’s stock after selling 34,978 shares during the quarter. CenterBook Partners LP’s holdings in Qfin were worth $390,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Qfin during the first quarter worth approximately $29,000. Hantz Financial Services Inc. increased its stake in shares of Qfin by 472.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock worth $32,000 after acquiring an additional 610 shares during the last quarter. iA Global Asset Management Inc. raised its holdings in shares of Qfin by 250.2% during the 2nd quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock worth $36,000 after acquiring an additional 588 shares during the period. First Horizon Advisors Inc. acquired a new position in shares of Qfin during the 2nd quarter valued at about $60,000. Finally, Rexford Capital Inc. purchased a new stake in shares of Qfin in the second quarter valued at about $78,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on QFIN shares. Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. JPMorgan Chase & Co. lowered 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 research report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.85.

Qfin Stock Performance

NASDAQ:QFIN opened at $14.94 on Friday. Qfin Holdings Inc. – Sponsored ADR has a fifty-two week low of $14.71 and a fifty-two week high of $48.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94. The company has a 50 day moving average price of $17.30 and a 200 day moving average price of $23.11. The stock has a market capitalization of $2.12 billion, a P/E ratio of 2.18, a PEG ratio of 0.22 and a beta of 0.52.

About Qfin

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.