Platinum Investment Management Ltd. lessened its stake in Qiwi Plc (NASDAQ:QIWI) by 21.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,443,139 shares of the credit services provider’s stock after selling 386,901 shares during the quarter. Qiwi Plc comprises about 1.0% of Platinum Investment Management Ltd.’s holdings, making the stock its 26th largest holding. Platinum Investment Management Ltd.’s holdings in Qiwi Plc were worth $35,616,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. purchased a new position in Qiwi Plc in the 2nd quarter worth approximately $201,000. Ameriprise Financial Inc. purchased a new position in Qiwi Plc in the 2nd quarter worth approximately $260,000. KCG Holdings Inc. purchased a new position in Qiwi Plc in the 1st quarter worth approximately $200,000. Jane Street Group LLC purchased a new position in Qiwi Plc in the 1st quarter worth approximately $221,000. Finally, Wells Fargo & Company MN boosted its holdings in Qiwi Plc by 110.5% in the 2nd quarter. Wells Fargo & Company MN now owns 15,378 shares of the credit services provider’s stock worth $380,000 after acquiring an additional 8,073 shares during the period. Hedge funds and other institutional investors own 14.63% of the company’s stock.

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Qiwi Plc (QIWI) traded down 3.07% during trading on Friday, reaching $16.42. The company’s stock had a trading volume of 165,198 shares. Qiwi Plc has a 52-week low of $11.60 and a 52-week high of $26.55.

A number of equities analysts have weighed in on the company. VTB Capital cut Qiwi Plc from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a report on Monday, June 19th. BidaskClub upgraded Qiwi Plc from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 15th. Citigroup Inc. cut Qiwi Plc from a “buy” rating to a “neutral” rating in a report on Wednesday, July 26th. Zacks Investment Research cut Qiwi Plc from a “strong-buy” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, ValuEngine upgraded Qiwi Plc from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Qiwi Plc currently has an average rating of “Hold” and a consensus price target of $22.67.

About Qiwi Plc

QIWI plc is a provider of payment services in Russia and the Commonwealth of Independent States (CIS). The Company’s network enables payment services across physical, online and mobile channels. The Company operates in target markets and customer segments. As of December 31, 2016, the Company had deployed over 17.2 million virtual wallets, over 162,000 kiosks and terminals, and enabled merchants to accept over Russian rubles 70 billion cash and electronic payments monthly.

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Institutional Ownership by Quarter for Qiwi Plc (NASDAQ:QIWI)

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