KBC Group NV Sells 44,361 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

KBC Group NV cut its holdings in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 17.1% in the first quarter, Holdings Channel reports. The institutional investor owned 214,831 shares of the company’s stock after selling 44,361 shares during the quarter. KBC Group NV’s holdings in Qfin were worth $2,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of QFIN. Triata Capital Ltd grew its stake in shares of Qfin by 188.3% in the fourth quarter. Triata Capital Ltd now owns 3,125,331 shares of the company’s stock worth $60,225,000 after acquiring an additional 2,041,351 shares during the last quarter. Norges Bank acquired a new position in Qfin during the 4th quarter valued at $30,436,000. Goldman Sachs Group Inc. raised its stake in Qfin by 198.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,842,278 shares of the company’s stock valued at $35,501,000 after purchasing an additional 1,224,164 shares during the last quarter. Marshall Wace LLP raised its stake in Qfin by 1,050.6% during the 3rd quarter. Marshall Wace LLP now owns 790,665 shares of the company’s stock valued at $22,755,000 after purchasing an additional 721,950 shares during the last quarter. Finally, M&G PLC bought a new stake in Qfin in the 4th quarter valued at $13,331,000. 74.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Bank of America restated a “neutral” rating and issued a $15.33 price target on shares of Qfin in a research report on Wednesday, May 27th. Weiss Ratings lowered shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Finally, Zacks Research upgraded shares of Qfin from a “strong sell” rating to a “hold” 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.91.

Insider Activity

In other Qfin news, Director Xiaohuan Chen acquired 4,000 shares of Qfin stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $14.41 per share, with a total value of $57,640.00. Following the acquisition, the director owned 19,000 shares of the company’s stock, valued at approximately $273,790. The trade was a 26.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 17.10% of the company’s stock.

Qfin Stock Performance

Shares of NASDAQ QFIN opened at $13.19 on Friday. The business has a fifty day simple moving average of $14.38 and a 200 day simple moving average of $14.57. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 2.42 and a beta of 0.57. Qfin Holdings Inc. – Sponsored ADR has a one year low of $11.31 and a one year high of $36.37.

Qfin (NASDAQ:QFIN) last issued its earnings results on Friday, May 15th. The company reported $1.12 EPS for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%.The firm had revenue of $567.01 million during the quarter. Sell-side analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 3.85 EPS for the current year.

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.