Caxton Associates LLP Takes Position in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Caxton Associates LLP acquired 28,886 shares in Qfin Holdings Inc., valued at approximately $1.297 million, during the first quarter.
• Qfin increased its semi-annual dividend from $0.70 to $0.76 per share, representing a significant dividend yield of 541.0%.
• Despite missing earnings expectations with an EPS of $1.78, the stock maintains a consensus rating of "Buy" with an average price target of $51.73.

Caxton Associates LLP bought a new stake in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 28,886 shares of the company's stock, valued at approximately $1,297,000.

A number of other hedge funds also recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in Qfin by 32.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company's stock valued at $72,028,000 after purchasing an additional 395,589 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Qfin in the 1st quarter valued at about $29,000. KADENSA CAPITAL Ltd purchased a new position in Qfin in the first quarter worth approximately $5,963,000. Alliancebernstein L.P. lifted its stake in Qfin by 20.8% in the first quarter. Alliancebernstein L.P. now owns 2,901,566 shares of the company's stock worth $130,309,000 after acquiring an additional 500,573 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Qfin by 51.7% in the first quarter. Royal Bank of Canada now owns 6,508 shares of the company's stock worth $293,000 after acquiring an additional 2,219 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Qfin in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price target for the company. Wall Street Zen downgraded shares of Qfin from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $51.73.

Qfin Stock Up 0.7%

Shares of NASDAQ QFIN traded up $0.20 during midday trading on Monday, hitting $28.56. 400,568 shares of the company's stock were exchanged, compared to its average volume of 1,723,493. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48. Qfin Holdings Inc. - Sponsored ADR has a twelve month low of $24.85 and a twelve month high of $48.94. The company has a market cap of $4.50 billion, a PE ratio of 4.03, a P/E/G ratio of 0.29 and a beta of 0.45. The firm's fifty day simple moving average is $34.30 and its 200-day simple moving average is $39.29.

Qfin (NASDAQ:QFIN - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.01). The business had revenue of $728.00 million for the quarter, compared to analyst estimates of $4.68 billion. Qfin had a return on equity of 30.74% and a net margin of 38.66%. Research analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current fiscal year.

Qfin Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be issued a $0.76 dividend. This represents a dividend yield of 541.0%. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Qfin's previous semi-annual dividend of $0.70. Qfin's dividend payout ratio is presently 21.19%.

About Qfin

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.