DNB Asset Management AS Has $1.90 Million Stake in Qfin Holdings Inc. – Sponsored ADR $QFIN

DNB Asset Management AS raised its stake in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 13.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 43,859 shares of the company’s stock after purchasing an additional 5,200 shares during the quarter. DNB Asset Management AS’s holdings in Qfin were worth $1,902,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. SVB Wealth LLC acquired a new position in Qfin during the first quarter valued at approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Qfin during the first quarter worth $29,000. Hantz Financial Services Inc. grew its holdings in shares of Qfin by 472.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock valued at $32,000 after buying an additional 610 shares during the period. Hoey Investments Inc. acquired a new stake in Qfin during the 2nd quarter worth $33,000. Finally, iA Global Asset Management Inc. lifted its holdings in Qfin by 250.2% during the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock worth $36,000 after acquiring an additional 588 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qfin Stock Up 7.3%

Shares of Qfin stock opened at $19.48 on Wednesday. The firm has a market cap of $2.77 billion, a PE ratio of 2.84, a P/E/G ratio of 0.19 and a beta of 0.39. The business’s 50 day simple moving average is $25.51 and its 200 day simple moving average is $33.61. 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 Holdings Inc. – Sponsored ADR has a 52-week low of $17.61 and a 52-week high of $48.94.

Qfin (NASDAQ:QFIN) last released its quarterly earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.16). Qfin had a return on equity of 28.73% and a net margin of 35.09%.The firm had revenue of $731.04 million for the quarter, compared to analyst estimates of $693.21 million. On average, analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QFIN. JPMorgan Chase & Co. downgraded Qfin from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $45.00 to $21.00 in a report on Wednesday, November 19th. Zacks Research raised Qfin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Weiss Ratings downgraded shares of Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Wall Street Zen cut shares of Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Qfin presently has an average rating of “Hold” and an average target price of $36.85.

About Qfin

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.