Y Intercept Hong Kong Ltd Acquires 140,800 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

Y Intercept Hong Kong Ltd grew its holdings in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 929.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 155,944 shares of the company’s stock after acquiring an additional 140,800 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Qfin were worth $6,762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SVB Wealth LLC bought a new stake in shares of Qfin during the 1st quarter valued at $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Qfin during the 1st quarter valued at $29,000. Hoey Investments Inc. bought a new stake in shares of Qfin during the 2nd quarter valued at $33,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Qfin during the 1st quarter valued at $108,000. Finally, Headlands Technologies LLC bought a new stake in shares of Qfin during the 1st quarter valued at $151,000. 74.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings downgraded shares of Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday. JPMorgan Chase & Co. assumed coverage on shares of Qfin in a research note on Wednesday, July 2nd. They set an “overweight” rating and a $65.00 target price for the company. Wall Street Zen cut shares of Qfin from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Zacks Research cut shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.73.

Qfin Stock Performance

Shares of NASDAQ:QFIN opened at $24.86 on Tuesday. Qfin Holdings Inc. – Sponsored ADR has a 52 week low of $24.81 and a 52 week high of $48.94. The stock has a market capitalization of $3.53 billion, a P/E ratio of 3.51, a PEG ratio of 0.28 and a beta of 0.42. The firm has a fifty day simple moving average of $28.73 and a two-hundred day simple moving average of $36.30. 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 (NASDAQ:QFIN) last issued its quarterly earnings data on Thursday, August 14th. The company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Qfin had a return on equity of 30.74% and a net margin of 38.66%.The business had revenue of $728.00 million during the quarter, compared to analysts’ expectations of $4.68 billion. On average, analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

Qfin Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th were paid a $0.76 dividend. This represents a dividend yield of 541.0%. The ex-dividend date of this dividend was Monday, September 8th. This is an increase from Qfin’s previous semi-annual dividend of $0.70. Qfin’s dividend payout ratio is 21.19%.

Qfin 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.