76,833 Shares in Qfin Holdings Inc. – Sponsored ADR $QFIN Bought by Meritage Portfolio Management

by · The Cerbat Gem

Meritage Portfolio Management bought a new stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN – Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 76,833 shares of the company’s stock, valued at approximately $2,211,000. Meritage Portfolio Management owned about 0.05% of Qfin at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Qfin in the 1st quarter valued at about $29,000. Hantz Financial Services Inc. raised its holdings in Qfin by 472.9% in the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock valued at $32,000 after buying an additional 610 shares during the period. Hoey Investments Inc. acquired a new position in Qfin during the second quarter valued at approximately $33,000. iA Global Asset Management Inc. lifted its position in Qfin by 250.2% during the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock valued at $36,000 after buying an additional 588 shares in the last quarter. Finally, First Horizon Advisors Inc. purchased a new stake in Qfin during the second quarter worth approximately $60,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on QFIN. JPMorgan Chase & Co. downgraded shares of Qfin from an “overweight” rating to a “neutral” rating and cut their target price for the company from $45.00 to $21.00 in a research note on Wednesday, November 19th. Zacks Research downgraded Qfin from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Qfin in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Qfin currently has a consensus rating of “Hold” and a consensus price target of $36.85.

View Our Latest Research Report on Qfin

Qfin Stock Performance

Qfin stock opened at $16.89 on Friday. Qfin Holdings Inc. – Sponsored ADR has a 12-month low of $16.71 and a 12-month high of $48.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.94 and a quick ratio of 2.94. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 2.46, a price-to-earnings-growth ratio of 0.25 and a beta of 0.43. The firm’s fifty day moving average price is $19.61 and its 200 day moving average price is $27.56.

Qfin (NASDAQ:QFIN – Get Free Report) last announced its earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.16). Qfin had a net margin of 35.09% and a return on equity of 28.73%. The business had revenue of $731.04 million for the quarter, compared to analyst estimates of $693.21 million. On average, research analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current fiscal year.

Qfin Profile

(Free Report)

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.

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