Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN) Stock Has Consensus Target Price of $12.29

Key Points

• Analyst sentiment is negative: Qfin has a consensus “Reduce” rating, with four sells, three holds and one buy. The average 12-month price target is $12.29, though recent downgrades include sell or underweight ratings from Citigroup, Zacks Research and JPMorgan.
• The stock is trading near its 12-month low: Qfin opened at $7.05, compared with a 12-month range of $7.03 to $31.08. Its latest quarter included $0.55 in earnings per share and $524.96 million in revenue.
• Qfin reduced its dividend and saw insider selling: The latest dividend fell to $0.46 per share from $0.78, while director Andrew Yan sold 326,700 shares at an average price of $7.36. Institutional investors and hedge funds collectively own 74.81% of the stock.

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report) has been given an average rating of "Reduce" by the eight ratings firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $12.29.

Several equities analysts have recently issued reports on the company. Morgan Stanley cut 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. Zacks Research downgraded Qfin from a "hold" rating to a "strong sell" rating in a report on Friday, August 28th. Citigroup lowered Qfin from a "buy" rating to a "sell" rating and set a $8.00 price objective on the stock. in a research report on Wednesday, August 26th. Weiss Ratings cut shares of Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. lowered shares of Qfin from a "neutral" rating to an "underweight" rating and cut their target price for the company from $13.50 to $9.00 in a report on Wednesday, August 26th.

Qfin Stock Performance

Shares of NASDAQ QFIN opened at $7.05 on Tuesday. The company has a 50 day simple moving average of $10.66 and a two-hundred day simple moving average 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 has a 12 month low of $7.03 and a 12 month high of $31.08.

Qfin (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported $0.55 earnings per share for the quarter. Qfin had a net margin of 22.23% and a return on equity of 15.23%. The firm had revenue of $524.96 million for the quarter. As a group, analysts predict that Qfin will post 2.42 earnings per share for the current year.

Qfin Cuts Dividend

The company also recently declared 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 is a drop from Qfin's previous dividend of $0.78. This represents a yield of 1,070.0%. The ex-dividend date is Wednesday, September 9th. Qfin's dividend payout ratio (DPR) is 21.63%.

Insider Buying and Selling

In other Qfin news, Director Andrew Yan sold 326,700 shares of Qfin stock in a transaction on Friday, September 25th. The shares were sold at an average price of $7.36, for a total value of $2,404,512.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.10% of the company's stock.

Institutional Investors Weigh In On Qfin

A number of institutional investors have recently modified their holdings of the business. FountainVest China Capital Partners GP3 Ltd. acquired a new position in Qfin during the second quarter worth $95,483,341. Triata Capital Ltd grew its position 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 valued at $60,225,000 after purchasing an additional 2,041,351 shares during the period. Norges Bank purchased a new stake in shares of Qfin during the fourth quarter worth about $30,436,000. Bank of America Corp DE increased its stake in shares of Qfin by 48.5% during the first quarter. Bank of America Corp DE now owns 1,987,457 shares of the company's stock worth $25,658,000 after purchasing an additional 649,492 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Qfin by 128.0% during the 2nd quarter. Wellington Management Group LLP now owns 1,034,463 shares of the company's stock worth $16,355,000 after purchasing an additional 580,772 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

About Qfin

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.

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