Amundi Cuts Stake in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Amundi sharply reduced its Qfin stake by 93.9% in the first quarter, selling 306,434 shares and retaining 19,923 shares valued at approximately $257,000. Institutional investors and hedge funds collectively own 74.81% of the stock.
• Qfin reported quarterly EPS of $1.12 on $567.01 million in revenue, with a 27.48% net margin and 20.85% return on equity. Analysts expect full-year EPS of $3.74.
• Shares opened at $12.49, near the lower end of their $11.31–$34.54 52-week range. Analysts have an overall “Hold” rating and a consensus price target of $16.31, while insider ownership stands at 17.10%.

Amundi cut its stake in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 93.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,923 shares of the company's stock after selling 306,434 shares during the period. Amundi's holdings in Qfin were worth $257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in Qfin by 247.8% in the first quarter. Royal Bank of Canada now owns 24,063 shares of the company's stock valued at $311,000 after acquiring an additional 17,144 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Qfin during the first quarter worth $5,032,000. Arrowstreet Capital Limited Partnership acquired a new stake in Qfin in the first quarter valued at $5,612,000. Cetera Investment Advisers raised its stake in Qfin by 39.1% in the first quarter. Cetera Investment Advisers now owns 57,028 shares of the company's stock valued at $736,000 after buying an additional 16,018 shares in the last quarter. Finally, Militia Capital Management LLC purchased a new stake in Qfin during the 1st quarter worth about $432,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Qfin Price Performance

Shares of NASDAQ QFIN opened at $12.49 on Friday. Qfin Holdings Inc. - Sponsored ADR has a 1-year low of $11.31 and a 1-year high of $34.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.22 and a quick ratio of 2.22. The stock has a fifty day moving average price of $14.16 and a 200 day moving average price of $14.15. The company has a market cap of $1.52 billion, a PE ratio of 2.29 and a beta of 0.63.

Qfin (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings data on Friday, May 15th. The company reported $1.12 EPS for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. The firm had revenue of $567.01 million during the quarter. Sell-side analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 3.74 EPS for the current year.

Insiders Place Their Bets

In other news, Director Xiaohuan Chen bought 4,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $14.41 per share, with a total value of $57,640.00. Following the completion of the acquisition, the director owned 19,000 shares of the company's stock, valued at approximately $273,790. This trade represents a 26.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Qfin from $14.50 to $13.50 and set a "neutral" rating for the company in a research note on Tuesday. Weiss Ratings downgraded shares of Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, July 13th. Bank of America restated a "neutral" rating and issued a $15.33 target price on shares of Qfin in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft set a $13.00 price objective on Qfin in a report on Wednesday. Finally, Zacks Research raised Qfin from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Qfin has an average rating of "Hold" and a consensus target price of $16.31.

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.

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