Qfin (NASDAQ:QFIN) Trading Down 7.9% – What’s Next?

Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) were down 7.9% during mid-day trading on Tuesday . The company traded as low as $21.17 and last traded at $21.6820. Approximately 670,001 shares changed hands during trading, a decline of 63% from the average daily volume of 1,790,718 shares. The stock had previously closed at $23.53.

Analyst Ratings Changes

A number of equities analysts have issued reports on QFIN shares. Weiss Ratings cut Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wall Street Zen cut Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Finally, Zacks Research cut Qfin from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $51.73.

Qfin Price Performance

The company has a market cap of $3.14 billion, a P/E ratio of 3.12, a PEG ratio of 0.25 and a beta of 0.39. The company has a fifty day moving average price of $27.92 and a two-hundred day moving average price of $35.78. 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 for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $728.00 million during the quarter, compared to the consensus estimate of $4.68 billion. Qfin had a net margin of 38.66% and a return on equity of 30.74%. On average, sell-side analysts anticipate 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 declared a semi-annual dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 8th were issued 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 dividend payout ratio is 21.19%.

Hedge Funds Weigh In On Qfin

A number of hedge funds and other institutional investors have recently bought and sold shares of QFIN. SVB Wealth LLC bought a new position in Qfin during the first quarter worth about $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Qfin during the first quarter worth about $29,000. Hantz Financial Services Inc. grew its holdings in Qfin by 472.9% during the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock worth $32,000 after purchasing an additional 610 shares during the period. Hoey Investments Inc. bought a new position in Qfin during the second quarter worth about $33,000. Finally, iA Global Asset Management Inc. grew 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 purchasing an additional 588 shares during the period. Institutional investors own 74.81% of the company’s stock.

Qfin Company 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.