Thoroughbred Financial Services LLC Acquires Shares of 4,890 Qfin Holdings Inc. – Sponsored ADR $QFIN

Thoroughbred Financial Services LLC bought a new position in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,890 shares of the company’s stock, valued at approximately $212,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Qfin by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,572,985 shares of the company’s stock valued at $205,373,000 after purchasing an additional 31,155 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. boosted its position in Qfin by 22.6% in the 2nd quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,295,438 shares of the company’s stock valued at $142,890,000 after buying an additional 606,446 shares during the last quarter. Alliancebernstein L.P. boosted its position in Qfin by 20.8% in the 1st quarter. Alliancebernstein L.P. now owns 2,901,566 shares of the company’s stock valued at $130,309,000 after buying an additional 500,573 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Qfin by 32.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock valued at $72,028,000 after buying an additional 395,589 shares during the period. Finally, Swedbank AB raised its position in shares of Qfin by 2.6% during the second quarter. Swedbank AB now owns 1,336,400 shares of the company’s stock worth $57,946,000 after acquiring an additional 34,500 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QFIN. Wall Street Zen lowered Qfin from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings cut shares of Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $51.73.

Qfin Stock Up 0.9%

Shares of Qfin stock opened at $22.42 on Wednesday. The business has a fifty day simple moving average of $26.50 and a 200 day simple moving average of $34.47. The stock has a market cap of $3.18 billion, a PE ratio of 3.17, a price-to-earnings-growth ratio of 0.23 and a beta of 0.39. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.20. Qfin Holdings Inc. – Sponsored ADR has a 12 month low of $20.45 and a 12 month high of $48.94.

Qfin (NASDAQ:QFIN) last issued its earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.16). The company had revenue of $731.04 million for the quarter, compared to the consensus estimate of $693.21 million. Qfin had a return on equity of 30.74% and a net margin of 38.66%. Research analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current year.

Qfin Company 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.