Renaissance Technologies LLC Purchases Shares of 389,743 Qfin Holdings Inc. – Sponsored ADR $QFIN

Renaissance Technologies LLC acquired a new position in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 389,743 shares of the company’s stock, valued at approximately $5,032,000. Renaissance Technologies LLC owned approximately 0.27% of Qfin as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new position in Qfin during the 1st quarter worth about $5,612,000. Cetera Investment Advisers lifted its stake in Qfin by 39.1% in the 1st quarter. Cetera Investment Advisers now owns 57,028 shares of the company’s stock valued at $736,000 after acquiring an additional 16,018 shares in the last quarter. Militia Capital Management LLC acquired a new position in Qfin during the 1st quarter worth approximately $432,000. DGS Capital Management LLC lifted its position 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 worth $141,000 after purchasing an additional 878 shares in the last quarter. Finally, Turn8 Private Wealth Inc. lifted its position in shares of Qfin by 11.6% in the first quarter. Turn8 Private Wealth Inc. now owns 137,567 shares of the company’s stock worth $1,776,000 after purchasing an additional 14,330 shares in the last quarter. 74.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on QFIN shares. Weiss Ratings downgraded shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Zacks Research raised shares of Qfin from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Bank of America restated a “neutral” rating and set a $15.33 price objective on shares of Qfin in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Qfin currently has a consensus rating of “Hold” and a consensus target price of $19.91.

Qfin Trading Down 0.9%

Shares of QFIN stock opened at $13.02 on Friday. Qfin Holdings Inc. – Sponsored ADR has a 12-month low of $11.31 and a 12-month high of $34.95. The company has a market capitalization of $1.59 billion, a PE ratio of 2.38 and a beta of 0.63. The firm has a 50 day moving average price of $14.47 and a two-hundred day moving average price of $14.29. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03.

Qfin (NASDAQ:QFIN) last announced its earnings results on Friday, May 15th. The company reported $1.12 earnings per share for the quarter. The company had revenue of $567.01 million for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%. As a group, analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 3.85 earnings per share for the current year.

Insiders Place Their Bets

In other Qfin news, Director Xiaohuan Chen purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the completion of the transaction, the director owned 19,000 shares in the company, valued at approximately $273,790. This represents a 26.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 17.10% of the stock is owned by company insiders.

Qfin Company Profile

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.