Lazard Asset Management LLC Has $1.50 Million Stake in Qfin Holdings Inc. – Sponsored ADR $QFIN

Lazard Asset Management LLC reduced its position in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 67.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,828 shares of the company’s stock after selling 239,027 shares during the quarter. Lazard Asset Management LLC owned approximately 0.08% of Qfin worth $1,495,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Qfin in the 1st quarter valued at $29,000. SBI Securities Co. Ltd. lifted its holdings in shares of Qfin by 6,796.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock worth $37,000 after acquiring an additional 1,903 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Qfin by 415.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock worth $51,000 after acquiring an additional 2,125 shares during the period. Parallel Advisors LLC boosted its position in shares of Qfin by 24.1% during the 4th quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock valued at $65,000 after acquiring an additional 656 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Qfin by 23.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock valued at $103,000 after acquiring an additional 1,016 shares in the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Bank of America reissued a “neutral” rating and issued a $15.33 price target on shares of Qfin in a research report on Wednesday, May 27th. Zacks Research upgraded Qfin from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Weiss Ratings lowered Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Qfin has a consensus rating of “Hold” and a consensus target price of $19.91.

Insiders Place Their Bets

In other news, Director Xiaohuan Chen acquired 4,000 shares of the company’s stock in a transaction dated 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 acquisition, the director owned 19,000 shares in the company, valued at approximately $273,790. This represents a 26.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 17.10% of the company’s stock.

Qfin Stock Down 2.2%

Shares of NASDAQ:QFIN opened at $13.56 on Wednesday. Qfin Holdings Inc. – Sponsored ADR has a 52 week low of $11.31 and a 52 week high of $34.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22. The company’s fifty day moving average is $14.57 and its 200-day moving average is $14.34. The company has a market capitalization of $1.65 billion, a PE ratio of 2.48 and a beta of 0.63.

Qfin (NASDAQ:QFIN) last announced its earnings results on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. The business had revenue of $567.01 million during the quarter. Equities research analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 3.85 earnings per share for the current fiscal year.

Qfin 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.