Rakuten Investment Management Inc. Takes Position in Qfin Holdings Inc. – Sponsored ADR $QFIN

Rakuten Investment Management Inc. bought a new position in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) during the 3rd quarter, HoldingsChannel reports. The firm bought 32,775 shares of the company’s stock, valued at approximately $943,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Personal CFO Solutions LLC boosted its holdings in Qfin by 6.9% in the second quarter. Personal CFO Solutions LLC now owns 8,141 shares of the company’s stock worth $353,000 after acquiring an additional 526 shares in the last quarter. iA Global Asset Management Inc. increased its holdings in shares of Qfin by 250.2% during the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock valued at $36,000 after acquiring an additional 588 shares in the last quarter. US Bancorp DE raised its position in shares of Qfin by 4.1% in the 2nd quarter. US Bancorp DE now owns 15,508 shares of the company’s stock valued at $672,000 after purchasing an additional 604 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in 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 purchasing an additional 610 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Qfin in the 1st quarter worth approximately $29,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Qfin Stock Down 2.4%

QFIN stock opened at $16.42 on Friday. The company has a market capitalization of $2.33 billion, a P/E ratio of 2.39, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. Qfin Holdings Inc. – Sponsored ADR has a 12 month low of $16.20 and a 12 month high of $48.94. The firm’s fifty day simple moving average is $18.85 and its 200-day simple moving average is $26.33. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.94 and a quick ratio of 2.94.

Qfin (NASDAQ:QFIN) last posted its earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.16). The business had revenue of $731.04 million for the quarter, compared to analyst estimates of $693.21 million. Qfin had a net margin of 35.09% and a return on equity of 28.73%. As a group, equities research analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on QFIN shares. JPMorgan Chase & Co. cut shares of Qfin from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $45.00 to $21.00 in a report on Wednesday, November 19th. Zacks Research lowered Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qfin in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Qfin currently has a consensus rating of “Hold” and a consensus price target of $36.85.

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.