Qfin (NASDAQ:QFIN) Stock Price Up 7.8% – Here’s What Happened

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)’s share price was up 7.8% during trading on Monday. The stock traded as high as $5.52 and last traded at $5.5750. Approximately 261,624 shares traded hands during trading, a decline of 85% from the average daily volume of 1,720,367 shares. The stock had previously closed at $5.17.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QFIN. Jefferies Financial Group reaffirmed a “buy” rating and issued a $15.40 price objective on shares of Qfin in a research note on Wednesday, August 26th. JPMorgan Chase & Co. lowered shares of Qfin from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $13.50 to $9.00 in a report on Wednesday, August 26th. Citigroup cut shares of Qfin from a “buy” rating to a “sell” rating and set a $8.00 price target for the company. in a research report on Wednesday, August 26th. Bank of America reaffirmed a “neutral” rating on shares of Qfin in a research report on Thursday, September 10th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Qfin in a report on Friday, October 9th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $12.29.

Qfin Stock Performance

The business has a 50-day moving average price of $7.33 and a 200-day moving average price of $12.50. The firm has a market capitalization of $656.84 million, a price-to-earnings ratio of 1.29 and a beta of 0.60. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.03.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.55 earnings per share for the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%. The firm had revenue of $524.96 million during the quarter. As a group, sell-side analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 2.43 earnings per share for the current year.

Qfin Cuts Dividend

The business also recently disclosed a dividend, which was paid on Thursday, October 1st. Stockholders of record on Wednesday, September 9th were issued a dividend of $0.46 per share. This represents a dividend yield of 1,070.0%. This is a decrease from Qfin’s previous dividend of $0.78. The ex-dividend date was Wednesday, September 9th. Qfin’s dividend payout ratio is currently 21.63%.

Insider Activity at Qfin

In related news, Director Andrew Yan sold 330,000 shares of Qfin stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $7.52, for a total value of $2,481,600.00. Following the completion of the sale, the director directly owned 326,700 shares in the company, valued at $2,456,784. This trade represents a 50.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 657,550 shares of company stock valued at $4,889,121. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Qfin

Institutional investors and hedge funds have recently made changes to their positions in the stock. DGS Capital Management LLC increased its position in shares of Qfin by 8.8% in the 1st quarter. DGS Capital Management LLC now owns 10,906 shares of the company’s stock valued at $141,000 after acquiring an additional 878 shares during the period. SBI Securities Co. Ltd. lifted its position in Qfin by 73.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 5,492 shares of the company’s stock worth $37,000 after acquiring an additional 2,330 shares during the period. Asset Management One Co. Ltd. lifted its position in Qfin by 90.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 5,518 shares of the company’s stock worth $37,000 after acquiring an additional 2,615 shares during the period. Apollon Wealth Management LLC acquired a new stake in Qfin during the 3rd quarter worth about $69,000. Finally, QRG Capital Management Inc. purchased a new stake in Qfin during the 1st quarter valued at about $136,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qfin Company Profile

Qifu Technology, Inc (NASDAQ: QFIN), formerly known as 360 DigiTech, Inc, is a China-based financial technology company. It operates a technology platform that connects individual borrowers with financial institution partners and supports the origination, underwriting, servicing and management of consumer credit products.

The company uses data analytics, artificial intelligence and other digital tools to assess credit risk and improve lending efficiency. Its platform supports products and services designed to provide personal loans and other consumer financing options, primarily through online and mobile channels.