Wellington Management Group LLP Increases Stock Holdings in Qfin Holdings Inc. – Sponsored ADR $QFIN

Wellington Management Group LLP grew its stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 128.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,034,463 shares of the company’s stock after purchasing an additional 580,772 shares during the period. Wellington Management Group LLP owned approximately 0.85% of Qfin worth $16,355,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. FountainVest China Capital Partners GP3 Ltd. acquired a new stake in shares of Qfin during the second quarter worth $95,483,341. Triata Capital Ltd increased its stake in Qfin by 188.3% in the 4th quarter. Triata Capital Ltd now owns 3,125,331 shares of the company’s stock valued at $60,225,000 after buying an additional 2,041,351 shares during the period. Dimensional Fund Advisors LP raised its position in Qfin by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,988,999 shares of the company’s stock worth $38,350,000 after buying an additional 176,754 shares during the last quarter. Bank of America Corp DE raised its position in Qfin by 48.5% during the 1st quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock worth $25,658,000 after buying an additional 649,492 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Qfin by 198.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,842,278 shares of the company’s stock worth $35,501,000 after acquiring an additional 1,224,164 shares during the period. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qfin Price Performance

Shares of NASDAQ:QFIN opened at $9.06 on Monday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 2.18 and a beta of 0.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.17 and a quick ratio of 2.17. The business’s 50 day simple moving average is $12.63 and its 200-day simple moving average is $13.54. Qfin Holdings Inc. – Sponsored ADR has a 12 month low of $8.35 and a 12 month high of $32.69.

Qfin (NASDAQ:QFIN) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.55 earnings per share (EPS) for the quarter. The firm had revenue of $524.96 million during the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%. As a group, equities analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 2.85 earnings per share for the current fiscal year.

Qfin Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 1st. Investors of record on Wednesday, September 9th will be given a $0.46 dividend. The ex-dividend date is Wednesday, September 9th. This represents a dividend yield of 1,032.0%. Qfin’s payout ratio is currently 37.02%.

Insider Activity at Qfin

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on QFIN shares. Deutsche Bank Aktiengesellschaft set a $13.00 price target on shares of Qfin in a research note on Wednesday, August 12th. Morgan Stanley downgraded shares of Qfin from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective for the company. in a research report on Wednesday, August 26th. Weiss Ratings cut Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. downgraded Qfin from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $13.50 to $9.00 in a research note on Wednesday, August 26th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $15.40 price target on shares of Qfin in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $12.29.

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.