Hsbc Holdings PLC Has $6.59 Million Stock Holdings in Qfin Holdings Inc. – Sponsored ADR $QFIN

Hsbc Holdings PLC lessened its stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 32.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 341,751 shares of the company’s stock after selling 162,174 shares during the quarter. Hsbc Holdings PLC’s holdings in Qfin were worth $6,588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QFIN. Caitong International Asset Management Co. Ltd grew its holdings in shares of Qfin by 813.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,669 shares of the company’s stock valued at $90,000 after acquiring an additional 4,158 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Qfin in the fourth quarter worth $202,000. XTX Topco Ltd raised its holdings in shares of Qfin by 123.8% during the fourth quarter. XTX Topco Ltd now owns 37,511 shares of the company’s stock worth $723,000 after acquiring an additional 20,747 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Qfin by 124.1% during the fourth quarter. Voloridge Investment Management LLC now owns 1,163,392 shares of the company’s stock worth $22,419,000 after acquiring an additional 644,171 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Qfin during the fourth quarter valued at $466,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qfin Stock Up 1.7%

Qfin stock opened at $14.75 on Thursday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.03. Qfin Holdings Inc. – Sponsored ADR has a 1-year low of $11.31 and a 1-year high of $44.58. The firm’s fifty day simple moving average is $14.39 and its 200-day simple moving average is $15.08. The company has a market capitalization of $1.80 billion, a P/E ratio of 2.70 and a beta of 0.57.

Qfin (NASDAQ:QFIN) last issued its quarterly earnings data on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. The firm had revenue of $567.01 million during the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. Sell-side analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 3.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Qfin

In related news, Director Xiaohuan Chen purchased 4,000 shares of Qfin stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $14.41 per share, with a total value of $57,640.00. Following the completion of the transaction, the director directly owned 19,000 shares of the company’s stock, valued at approximately $273,790. This represents a 26.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 17.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

QFIN has been the topic of a number of recent research reports. Weiss Ratings upgraded Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 23rd. Bank of America reiterated a “neutral” rating and set a $15.33 price target on shares of Qfin in a report on Wednesday, May 27th. Finally, Jefferies Financial Group dropped their price objective on Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.91.

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.