Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) have received a consensus rating of “Reduce” from the five research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $19.91.

A number of brokerages recently issued reports on QFIN. Bank of America reiterated a “neutral” rating and issued a $15.33 price objective on shares of Qfin in a report on Wednesday, May 27th. Jefferies Financial Group decreased their price objective on shares of Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a report on Wednesday, March 18th. Finally, Weiss Ratings cut shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 9th.

Qfin Stock Performance

Shares of NASDAQ:QFIN opened at $15.21 on Friday. The stock has a market capitalization of $1.85 billion, a PE ratio of 2.79 and a beta of 0.61. Qfin has a 1 year low of $11.31 and a 1 year high of $46.18. The firm has a fifty day moving average price of $13.95 and a 200 day moving average price of $15.47. 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 (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%. Analysts expect that Qfin will post 3.79 EPS for the current fiscal year.

Insider Transactions at Qfin

In other Qfin news, Director Xiaohuan Chen acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the completion of the acquisition, the director owned 19,000 shares of the company’s stock, valued at approximately $273,790. This trade represents a 26.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Militia Capital Management LLC acquired a new position in Qfin during the 1st quarter worth $432,000. Bank of America Corp DE lifted its position in Qfin by 48.5% during the 1st quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock worth $25,658,000 after acquiring an additional 649,492 shares during the last quarter. Royal Bank of Canada lifted its position in Qfin by 247.8% during the 1st quarter. Royal Bank of Canada now owns 24,063 shares of the company’s stock worth $311,000 after acquiring an additional 17,144 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Qfin during the 1st quarter worth $5,032,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Qfin during the 1st quarter worth $5,612,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

About Qfin

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.