Russell Investments Group Ltd. Decreases Position in Qfin Holdings Inc. – Sponsored ADR $QFIN

Russell Investments Group Ltd. trimmed its holdings in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 10.6% in the third quarter, HoldingsChannel.com reports. The firm owned 833,113 shares of the company’s stock after selling 99,283 shares during the quarter. Russell Investments Group Ltd.’s holdings in Qfin were worth $24,580,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Qfin during the first quarter worth approximately $29,000. Rexford Capital Inc. acquired a new position in shares of Qfin in the 2nd quarter valued at $78,000. PNC Financial Services Group Inc. grew its position in shares of Qfin by 32.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,147 shares of the company’s stock valued at $136,000 after buying an additional 774 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Qfin by 703.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,538 shares of the company’s stock valued at $131,000 after buying an additional 3,973 shares during the last quarter. Finally, Thoroughbred Financial Services LLC acquired a new stake in Qfin during the 2nd quarter worth $212,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Qfin Price Performance

Qfin stock opened at $13.89 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.94 and a quick ratio of 2.94. The business has a 50 day simple moving average of $15.96 and a 200-day simple moving average of $21.48. Qfin Holdings Inc. – Sponsored ADR has a 12 month low of $13.85 and a 12 month high of $48.94. The stock has a market capitalization of $1.97 billion, a PE ratio of 2.02, a price-to-earnings-growth ratio of 0.21 and a beta of 0.49.

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.