Qfin Holdings Inc. – Sponsored ADR $QFIN Position Lessened by KBC Group NV

KBC Group NV decreased its position in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 17.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,831 shares of the company’s stock after selling 44,361 shares during the period. KBC Group NV owned 0.15% of Qfin worth $2,773,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Qfin during the 1st quarter worth about $29,000. SBI Securities Co. Ltd. grew its stake in shares of Qfin by 6,796.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after buying an additional 1,903 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Qfin by 415.9% in the 4th 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 in the last quarter. Parallel Advisors LLC increased its holdings in Qfin by 24.1% in the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after buying an additional 656 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Qfin by 23.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after buying an additional 1,016 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qfin Trading Up 0.5%

NASDAQ:QFIN opened at $13.19 on Friday. Qfin Holdings Inc. – Sponsored ADR has a 12 month low of $11.31 and a 12 month high of $36.37. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 2.42 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 company’s 50 day moving average is $14.38 and its 200-day moving average is $14.57.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings data on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. The business had revenue of $567.01 million during the quarter. Equities analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 3.85 EPS for the current year.

Analyst Upgrades and Downgrades

QFIN has been the subject of a number of analyst reports. Bank of America reiterated a “neutral” rating and issued a $15.33 target price on shares of Qfin in a research note 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, July 13th. Finally, Weiss Ratings downgraded shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Qfin presently has an average rating of “Hold” and an average price target of $19.91.

Insiders Place Their Bets

In other news, Director Xiaohuan Chen bought 4,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $14.41 per share, with a total value of $57,640.00. Following the transaction, the director directly owned 19,000 shares in the company, valued at approximately $273,790. The trade was a 26.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 17.10% of the stock is currently owned by corporate insiders.

Qfin Profile

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.