WT Asset Management Ltd Makes New Investment in Qfin Holdings Inc. – Sponsored ADR $QFIN

WT Asset Management Ltd acquired a new position in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,000 shares of the company’s stock, valued at approximately $1,518,000. Qfin makes up about 0.1% of WT Asset Management Ltd’s investment portfolio, making the stock its 28th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of QFIN. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Qfin by 10,812.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company’s stock worth $91,720,000 after purchasing an additional 2,023,590 shares in the last quarter. Krane Funds Advisors LLC lifted its stake in shares of Qfin by 24.4% during the first quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company’s stock worth $315,849,000 after purchasing an additional 1,381,624 shares in the last quarter. Keystone Investors PTE Ltd. acquired a new position in shares of Qfin during the first quarter worth about $52,814,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Qfin by 183.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 888,680 shares of the company’s stock worth $39,911,000 after purchasing an additional 575,545 shares in the last quarter. Finally, Panview Capital Ltd acquired a new position in shares of Qfin during the first quarter worth about $24,925,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Qfin in a research note on Saturday, September 27th. JPMorgan Chase & Co. initiated coverage on Qfin in a research note on Wednesday, July 2nd. They issued an “overweight” rating and a $65.00 price target on the stock. Finally, Wall Street Zen cut Qfin from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $51.73.

Qfin Trading Down 3.8%

NASDAQ:QFIN opened at $29.51 on Friday. The business’s 50-day simple moving average is $30.88 and its 200 day simple moving average is $38.13. Qfin Holdings Inc. – Sponsored ADR has a one year low of $27.64 and a one year high of $48.94. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 4.17, a price-to-earnings-growth ratio of 0.32 and a beta of 0.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.48 and a current ratio of 3.48.

Qfin (NASDAQ:QFIN) last announced its quarterly earnings data on Thursday, August 14th. The company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). Qfin had a net margin of 38.66% and a return on equity of 30.74%. The firm had revenue of $728.00 million for the quarter, compared to analyst estimates of $4.68 billion. As a group, sell-side analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

Qfin Increases Dividend

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

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.