Short Interest in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) Drops By 30.4%

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 1,580,164 shares, a drop of 30.4% from the March 31st total of 2,268,938 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average trading volume of 1,082,395 shares, the days-to-cover ratio is currently 1.5 days.

Insider Buying and Selling

In other Qfin news, Director Xiaohuan Chen acquired 190,000 shares of the stock in a transaction dated Friday, March 27th. The shares were acquired at an average cost of $12.89 per share, for a total transaction of $2,449,100.00. Following the completion of the transaction, the director directly owned 190,000 shares of the company’s stock, valued at approximately $2,449,100. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Qfin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. APEIRON CAPITAL Ltd increased its holdings in shares of Qfin by 47.5% in the third quarter. APEIRON CAPITAL Ltd now owns 793,455 shares of the company’s stock valued at $22,836,000 after purchasing an additional 255,400 shares during the period. Cape Ann Asset Management Ltd acquired a new stake in Qfin during the third quarter valued at $14,698,000. American Century Companies Inc. raised its holdings in Qfin by 20.6% in the 3rd quarter. American Century Companies Inc. now owns 794,274 shares of the company’s stock worth $22,859,000 after purchasing an additional 135,462 shares during the period. Krane Funds Advisors LLC lifted its position in shares of Qfin by 25.1% during the 3rd quarter. Krane Funds Advisors LLC now owns 6,344,592 shares of the company’s stock valued at $182,597,000 after buying an additional 1,271,942 shares in the last quarter. Finally, Meritage Portfolio Management purchased a new position in Qfin during the third quarter valued at $2,211,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on QFIN shares. Jefferies Financial Group decreased their target price on Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Weiss Ratings downgraded Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $22.20.

Qfin Price Performance

Qfin stock traded up $0.46 during midday trading on Thursday, reaching $13.08. 468,029 shares of the stock traded hands, compared to its average volume of 1,488,173. The stock has a market cap of $1.86 billion, a P/E ratio of 2.12, a PEG ratio of 0.25 and a beta of 0.51. The stock’s fifty day moving average is $13.78 and its 200-day moving average is $17.60. The company has a quick ratio of 2.94, a current ratio of 2.43 and a debt-to-equity ratio of 0.07. Qfin has a 12 month low of $12.29 and a 12 month high of $47.00.

Qfin (NASDAQ:QFIN) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.59 earnings per share (EPS) for the quarter. Qfin had a return on equity of 24.97% and a net margin of 31.13%.The business had revenue of $584.98 million for the quarter. As a group, equities research analysts anticipate that Qfin will post 3.82 EPS for the current year.

Qfin Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, May 14th. Stockholders of record on Wednesday, April 22nd will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a dividend yield of 1,176.0%. Qfin’s dividend payout ratio (DPR) is 25.00%.

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.