41,663 Shares in Qfin Holdings Inc. - Sponsored ADR $QFIN Acquired by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC acquired 41,663 shares of Qfin Holdings Inc. valued at approximately $1.8 million, reflecting strong institutional interest in the company.
• Qfin recently announced a semi-annual dividend of $0.76, increasing from its previous $0.70 dividend, representing a notable dividend yield of 541.0%.
• Research analysts have set a consensus price target of $51.73 for Qfin, with JPMorgan Chase issuing an "overweight" rating and a target price of $65.00.

Exchange Traded Concepts LLC bought a new position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 41,663 shares of the company's stock, valued at approximately $1,807,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of QFIN. SVB Wealth LLC bought a new stake in Qfin during the 1st quarter worth approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Qfin during the 1st quarter worth approximately $29,000. State of Wyoming bought a new position in shares of Qfin in the 4th quarter worth $97,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Qfin in the 1st quarter worth $108,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Qfin during the 1st quarter valued at $151,000. Institutional investors own 74.81% of the company's stock.

Qfin Trading Down 0.0%

Shares of QFIN opened at $30.33 on Monday. The stock has a market capitalization of $4.78 billion, a P/E ratio of 4.28, a PEG ratio of 0.31 and a beta of 0.45. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $32.93 and a two-hundred day simple moving average of $38.91. Qfin Holdings Inc. - Sponsored ADR has a twelve month low of $25.49 and a twelve month high of $48.94.

Qfin (NASDAQ:QFIN - Get Free Report) last announced its quarterly 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 firm had revenue of $728.00 million for the quarter, compared to analysts' expectations of $4.68 billion. Qfin had a net margin of 38.66% and a return on equity of 30.74%. On average, research analysts anticipate that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current year.

Qfin Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on QFIN. JPMorgan Chase & Co. started coverage on Qfin in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 target price on the stock. Wall Street Zen downgraded Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Qfin currently has an average rating of "Buy" and a consensus price target of $51.73.

Qfin Profile

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.

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