Qfin (NASDAQ:QFIN) Director Andrew Yan Sells 330,000 Shares of Stock

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) Director Andrew Yan sold 330,000 shares of the firm’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $7.52, for a total value of $2,481,600.00. Following the sale, the director directly owned 326,700 shares in the company, valued at $2,456,784. The trade was a 50.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Qfin Stock Down 3.4%

NASDAQ:QFIN opened at $7.05 on Tuesday. Qfin Holdings Inc. – Sponsored ADR has a 1 year low of $7.03 and a 1 year high of $31.08. The stock has a 50-day moving average price of $10.66 and a two-hundred day moving average price of $12.77. The stock has a market cap of $858.34 million, a price-to-earnings ratio of 1.69 and a beta of 0.57. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03.

Qfin (NASDAQ:QFIN) last released its quarterly earnings results on Friday, August 14th. The company reported $0.55 EPS for the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%.The company had revenue of $524.96 million for the quarter. As a group, equities analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 2.42 earnings per share for the current year.

Qfin Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, October 1st. Investors of record on Wednesday, September 9th will be paid a dividend of $0.46 per share. This represents a yield of 1,070.0%. The ex-dividend date of this dividend is Wednesday, September 9th. This is a negative change from Qfin’s previous dividend of $0.78. Qfin’s dividend payout ratio (DPR) is currently 21.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QFIN. Zacks Research lowered shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Friday, August 28th. Deutsche Bank Aktiengesellschaft set a $13.00 price objective on shares of Qfin in a report on Wednesday, August 12th. Bank of America reaffirmed a “neutral” rating on shares of Qfin in a research report on Thursday, September 10th. JPMorgan Chase & Co. cut Qfin from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $13.50 to $9.00 in a report on Wednesday, August 26th. Finally, Morgan Stanley downgraded Qfin from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective for the company. in a report on Wednesday, August 26th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Qfin presently has a consensus rating of “Reduce” and an average target price of $12.29.

Institutional Trading of Qfin

Several institutional investors and hedge funds have recently bought and sold shares of QFIN. DGS Capital Management LLC boosted its stake in shares of Qfin by 8.8% in the first quarter. DGS Capital Management LLC now owns 10,906 shares of the company’s stock valued at $141,000 after buying an additional 878 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Qfin by 813.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,669 shares of the company’s stock worth $90,000 after buying an additional 4,158 shares in the last quarter. APEIRON CAPITAL Ltd increased its stake in Qfin by 0.4% during the 1st quarter. APEIRON CAPITAL Ltd now owns 1,032,055 shares of the company’s stock worth $13,324,000 after acquiring an additional 4,600 shares during the period. Maven Securities LTD increased its stake in Qfin by 8.1% during the 4th quarter. Maven Securities LTD now owns 68,033 shares of the company’s stock worth $1,311,000 after acquiring an additional 5,121 shares during the period. Finally, QRG Capital Management Inc. acquired a new position in Qfin in the 1st quarter valued at $136,000. Institutional investors own 74.81% of the company’s stock.

Qfin Company Profile

Qifu Technology, Inc (NASDAQ: QFIN), formerly known as 360 DigiTech, Inc, is a China-based financial technology company that operates a technology-enabled consumer credit services platform. The company uses data analytics, artificial intelligence and risk-management technologies to help connect consumers seeking credit with financial institutions and other lending partners.

Qifu provides services across the consumer lending process, including customer acquisition, credit assessment, loan facilitation, risk management and post-origination support.