Qfin (NASDAQ:QFIN) Shares Down 3% – Here’s Why

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) traded down 3% on Friday . The stock traded as low as $29.76 and last traded at $29.75. 200,836 shares traded hands during trading, a decline of 88% from the average session volume of 1,742,368 shares. The stock had previously closed at $30.67.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Qfin in a report on Saturday, September 27th. JPMorgan Chase & Co. assumed coverage on Qfin in a report on Wednesday, July 2nd. They set an “overweight” rating and a $65.00 price target on the stock. Finally, Wall Street Zen downgraded Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $51.73.

Qfin Stock Down 3.8%

The business has a 50 day moving average of $30.88 and a 200-day moving average of $38.07. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.65 billion, a PE ratio of 4.17, a P/E/G ratio of 0.31 and a beta of 0.42.

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

Qfin Increases Dividend

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

Institutional Trading of Qfin

A number of hedge funds have recently added to or reduced their stakes in QFIN. Yousif Capital Management LLC acquired a new stake in Qfin during the 1st quarter worth approximately $209,000. Matthews International Capital Management LLC acquired a new stake in Qfin during the 1st quarter worth approximately $4,025,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Qfin in the 1st quarter valued at approximately $208,000. Asset Management One Co. Ltd. lifted its holdings in shares of Qfin by 36.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 44,755 shares of the company’s stock valued at $2,010,000 after buying an additional 11,882 shares during the period. Finally, APEIRON CAPITAL Ltd acquired a new stake in shares of Qfin in the 1st quarter valued at approximately $19,016,000. 74.81% of the stock is owned by institutional investors and hedge funds.

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.