Qfin (NASDAQ:QFIN) Shares Gap Up After Better-Than-Expected Earnings

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) shares gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $12.59, but opened at $13.90. Qfin shares last traded at $15.4870, with a volume of 1,853,009 shares changing hands.

The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.96 by $0.08. The business had revenue of $567.01 million during the quarter, compared to analyst estimates of $476.92 million. Qfin had a net margin of 31.13% and a return on equity of 24.97%.

Qfin Announces Dividend

The business also recently disclosed a dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 22nd were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a dividend yield of 1,176.0%. Qfin’s dividend payout ratio (DPR) is currently 25.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on QFIN. Weiss Ratings lowered Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Jefferies Financial Group dropped their price target on Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $22.20.

Insiders Place Their Bets

In other news, Director Xiaohuan Chen acquired 190,000 shares of the stock in a transaction on Friday, March 27th. The shares were purchased at an average cost of $12.89 per share, for a total transaction of $2,449,100.00. Following the transaction, the director owned 190,000 shares in the company, valued at approximately $2,449,100. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Qfin during the first quarter valued at $29,000. SBI Securities Co. Ltd. lifted its stake in Qfin by 6,796.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock worth $37,000 after acquiring an additional 1,903 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Qfin by 415.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock worth $51,000 after acquiring an additional 2,125 shares during the period. Parallel Advisors LLC grew its stake in Qfin by 24.1% during the 4th quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock valued at $65,000 after acquiring an additional 656 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Qfin by 38.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,342 shares of the company’s stock valued at $125,000 after acquiring an additional 1,195 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qfin Stock Up 23.4%

The business has a fifty day moving average price of $13.18 and a two-hundred day moving average price of $16.15. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 2.52, a P/E/G ratio of 0.22 and a beta of 0.54.

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.