Qfin Holdings Inc. – Sponsored ADR $QFIN Stock Position Trimmed by OLP CAPITAL MANAGEMENT Ltd

OLP CAPITAL MANAGEMENT Ltd lessened its holdings in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 23.9% in the third quarter, Holdings Channel reports. The firm owned 5,010,933 shares of the company’s stock after selling 1,569,659 shares during the period. Qfin accounts for 25.4% of OLP CAPITAL MANAGEMENT Ltd’s investment portfolio, making the stock its 2nd largest holding. OLP CAPITAL MANAGEMENT Ltd’s holdings in Qfin were worth $144,215,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Qfin in the 1st quarter worth about $29,000. Rexford Capital Inc. bought a new position in Qfin during the second quarter valued at about $78,000. PNC Financial Services Group Inc. increased its holdings in Qfin by 38.0% during the third quarter. PNC Financial Services Group Inc. now owns 4,342 shares of the company’s stock worth $125,000 after buying an additional 1,195 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Qfin by 703.2% during the third quarter. Farther Finance Advisors LLC now owns 4,538 shares of the company’s stock worth $131,000 after buying an additional 3,973 shares during the last quarter. Finally, Legacy Financial Advisors Inc. bought a new stake in Qfin in the third quarter worth about $201,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QFIN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut shares of Qfin from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $45.00 to $21.00 in a research note on Wednesday, November 19th. Zacks Research lowered shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qfin in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Qfin presently has a consensus rating of “Hold” and an average target price of $36.85.

Qfin Trading Down 0.4%

Shares of QFIN opened at $13.84 on Friday. Qfin Holdings Inc. – Sponsored ADR has a fifty-two week low of $13.81 and a fifty-two week high of $48.94. The business has a 50-day moving average of $15.86 and a 200 day moving average of $21.36. The firm has a market cap of $1.97 billion, a P/E ratio of 2.02, a price-to-earnings-growth ratio of 0.20 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94.

Qfin Company 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.