Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) have been assigned a consensus rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $19.91.

QFIN has been the subject of a number of research reports. Bank of America reaffirmed a “neutral” rating and set a $15.33 target price on shares of Qfin in a report on Wednesday, May 27th. Zacks Research upgraded shares of Qfin from a “strong sell” rating to a “hold” rating in a research note on Monday. Weiss Ratings downgraded Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Finally, Jefferies Financial Group cut their price objective on Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a research report on Wednesday, March 18th.

Insider Activity at Qfin

In other Qfin news, Director Xiaohuan Chen bought 4,000 shares of Qfin stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the acquisition, the director directly owned 19,000 shares in the company, valued at approximately $273,790. This represents a 26.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 17.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Qfin

Several large investors have recently modified their holdings of QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Qfin during the first quarter valued at $29,000. SBI Securities Co. Ltd. grew its stake in Qfin by 6,796.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock worth $37,000 after purchasing an additional 1,903 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Qfin by 415.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock valued at $51,000 after buying an additional 2,125 shares during the period. Parallel Advisors LLC boosted its stake in shares of Qfin by 24.1% during the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock valued at $65,000 after purchasing an additional 656 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Qfin by 23.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock valued at $103,000 after acquiring an additional 1,016 shares during the period. Institutional investors own 74.81% of the company’s stock.

Qfin Trading Up 5.1%

Qfin stock opened at $12.90 on Thursday. Qfin has a 52-week low of $11.31 and a 52-week high of $43.20. The company has a market cap of $1.57 billion, a P/E ratio of 2.36 and a beta of 0.57. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $14.40 and a two-hundred day simple moving average of $14.86.

Qfin (NASDAQ:QFIN) last issued its quarterly earnings data on Friday, May 15th. The company reported $1.12 earnings per share for the quarter. The firm had revenue of $567.01 million for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. Analysts predict that Qfin will post 3.85 EPS for the current year.

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.