Qfin Holdings Inc. – Sponsored ADR $QFIN Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 128.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,034,463 shares of the company’s stock after buying an additional 580,772 shares during the period. Wellington Management Group LLP’s holdings in Qfin were worth $16,355,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Qfin in the second quarter valued at $1,573,000. FountainVest China Capital Partners GP3 Ltd. purchased a new stake in Qfin during the 2nd quarter worth about $95,483,341. Ramsey Quantitative Systems purchased a new stake in Qfin during the 2nd quarter worth about $207,000. Militia Capital Management LLC acquired a new position in Qfin in the 1st quarter valued at about $432,000. Finally, Bank of America Corp DE raised its stake in Qfin by 48.5% in the 1st quarter. Bank of America Corp DE now owns 1,987,457 shares of the company’s stock valued at $25,658,000 after purchasing an additional 649,492 shares during the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Qfin

In other Qfin news, Director Xiaohuan Chen purchased 4,000 shares of Qfin stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $14.41 per share, with a total value of $57,640.00. Following the completion of the transaction, the director directly owned 19,000 shares in the company, valued at approximately $273,790. This represents a 26.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.10% of the company’s stock.

Qfin Price Performance

Shares of Qfin stock opened at $9.06 on Monday. The business’s fifty day moving average price is $12.63 and its 200 day moving average price is $13.54. Qfin Holdings Inc. – Sponsored ADR has a twelve month low of $8.35 and a twelve month high of $32.69. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.10 billion, a P/E ratio of 2.18 and a beta of 0.57.

Qfin (NASDAQ:QFIN) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.55 EPS for the quarter. The company had revenue of $524.96 million during the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%. As a group, research analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 2.85 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 given a dividend of $0.46 per share. This represents a yield of 1,032.0%. The ex-dividend date of this dividend is Wednesday, September 9th. Qfin’s dividend payout ratio is 37.02%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Zacks Research cut shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Friday, August 28th. Weiss Ratings lowered shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft set a $13.00 price objective on shares of Qfin in a research note on Wednesday, August 12th. Morgan Stanley cut shares of Qfin from an “overweight” rating to an “equal weight” rating and set a $13.00 target price for the company. in a research note on Wednesday, August 26th. Finally, JPMorgan Chase & Co. downgraded Qfin from a “neutral” rating to an “underweight” rating and cut their price target for the company from $13.50 to $9.00 in a report on Wednesday, August 26th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $12.29.

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.