Arrowstreet Capital Limited Partnership Purchases New Shares in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Arrowstreet Capital purchased 434,704 QFIN shares worth approximately $5.6 million, giving it a 0.31% stake. Hedge funds and institutional investors collectively own 74.81% of the company.
• QFIN’s analyst consensus is “Hold”, with one Buy, three Hold and one Sell rating and an average price target of $19.91. Weiss Ratings downgraded the stock to Sell, while Zacks Research upgraded it to Hold.
• 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. Shares recently opened at $13.88, compared with a 52-week range of $11.31 to $34.95.

Arrowstreet Capital Limited Partnership purchased a new position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 434,704 shares of the company's stock, valued at approximately $5,612,000. Arrowstreet Capital Limited Partnership owned 0.31% of Qfin at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of QFIN. Cetera Investment Advisers grew its holdings in shares of Qfin by 39.1% during the first quarter. Cetera Investment Advisers now owns 57,028 shares of the company's stock worth $736,000 after buying an additional 16,018 shares during the last quarter. Militia Capital Management LLC acquired a new stake in Qfin during the 1st quarter worth approximately $432,000. DGS Capital Management LLC grew its stake in shares of Qfin by 8.8% in the 1st quarter. DGS Capital Management LLC now owns 10,906 shares of the company's stock valued at $141,000 after purchasing an additional 878 shares during the last quarter. Turn8 Private Wealth Inc. increased its holdings in shares of Qfin by 11.6% in the first quarter. Turn8 Private Wealth Inc. now owns 137,567 shares of the company's stock valued at $1,776,000 after purchasing an additional 14,330 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in shares of Qfin during the first quarter worth approximately $136,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Qfin

In related news, Director Xiaohuan Chen purchased 4,000 shares of Qfin stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the transaction, the director owned 19,000 shares in the company, valued at approximately $273,790. The trade was a 26.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 17.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on QFIN. Weiss Ratings cut shares of Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, July 13th. Bank of America reaffirmed a "neutral" rating and issued a $15.33 target price on shares of Qfin in a report on Wednesday, May 27th. Finally, Zacks Research upgraded shares of Qfin from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Qfin currently has an average rating of "Hold" and a consensus target price of $19.91.

Qfin Price Performance

Shares of NASDAQ QFIN opened at $13.88 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22. Qfin Holdings Inc. - Sponsored ADR has a one year low of $11.31 and a one year high of $34.95. The firm has a market capitalization of $1.69 billion, a P/E ratio of 2.54 and a beta of 0.57. The company's fifty day moving average is $14.51 and its two-hundred day moving average is $14.39.

Qfin (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings results on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. The business had revenue of $567.01 million during the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. Analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 3.85 EPS for the current fiscal year.

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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