Norges Bank Makes New $43.27 Million Investment in Qfin Holdings Inc. – Sponsored ADR $QFIN

Norges Bank acquired a new stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 997,813 shares of the company’s stock, valued at approximately $43,265,000.

A number of other institutional investors have also modified their holdings of QFIN. SVB Wealth LLC purchased a new position in Qfin in the first quarter valued at approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Qfin during the first quarter worth approximately $29,000. Hantz Financial Services Inc. increased its position in shares of Qfin by 472.9% in the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock worth $32,000 after acquiring an additional 610 shares in the last quarter. Hoey Investments Inc. purchased a new position in shares of Qfin in the 2nd quarter valued at $33,000. Finally, iA Global Asset Management Inc. lifted its holdings in shares of Qfin by 250.2% during the 2nd 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. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Analyst Upgrades and Downgrades

QFIN has been the subject of several recent research reports. Zacks Research upgraded Qfin from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. JPMorgan Chase & Co. lowered Qfin from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $45.00 to $21.00 in a research note on Wednesday, November 19th. Weiss Ratings lowered Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Wall Street Zen cut Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Qfin presently has a consensus rating of “Hold” and a consensus price target of $36.85.

Qfin Trading Up 4.4%

NASDAQ:QFIN opened at $19.57 on Friday. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 2.85, a price-to-earnings-growth ratio of 0.21 and a beta of 0.40. Qfin Holdings Inc. – Sponsored ADR has a one year low of $17.61 and a one year high of $48.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94. The business’s 50-day simple moving average is $23.72 and its 200 day simple moving average is $32.28.

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

Qfin Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.