Qfin Holdings Inc. - Sponsored ADR $QFIN Shares Sold by Causeway Capital Management LLC

Key Points

• Causeway Capital Management LLC has decreased its stake in Qfin Holdings Inc. by 5.1%, now owning approximately 1.2% of the company's portfolio, valued at about $58.7 million.
• The company recently announced an increase in its semi-annual dividend from $0.70 to $0.76, representing a yield of 440.0%.
• Qfin's stock performance showed a market capital of $4.90 billion with a price-to-earnings ratio of 4.39 and a return on equity of 30.74%.

Causeway Capital Management LLC lowered its position in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 5.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,307,273 shares of the company's stock after selling 70,202 shares during the period. Qfin accounts for approximately 1.2% of Causeway Capital Management LLC's portfolio, making the stock its 21st biggest holding. Causeway Capital Management LLC owned approximately 0.83% of Qfin worth $58,710,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QFIN. Wells Fargo & Company MN lifted its holdings in Qfin by 1,392.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,595 shares of the company's stock valued at $215,000 after purchasing an additional 5,220 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Qfin in the 4th quarter valued at $298,000. Voya Investment Management LLC lifted its holdings in Qfin by 56.9% in the 4th quarter. Voya Investment Management LLC now owns 15,986 shares of the company's stock valued at $614,000 after purchasing an additional 5,798 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Qfin in the 4th quarter valued at $475,000. Finally, Tudor Investment Corp ET AL purchased a new position in Qfin in the 4th quarter valued at $520,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

Wall Street Analysts Forecast Growth

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

Qfin Trading Down 2.4%

QFIN traded down $0.70 on Thursday, hitting $29.01. The company had a trading volume of 2,357,331 shares, compared to its average volume of 2,193,433. The firm has a market cap of $4.57 billion, a P/E ratio of 4.10, a PEG ratio of 0.30 and a beta of 0.39. Qfin Holdings Inc. - Sponsored ADR has a 1 year low of $24.30 and a 1 year high of $48.94. The company's fifty day moving average price is $37.61 and its 200 day moving average price is $40.39. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $728.00 million during 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%. As a group, equities analysts expect that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 440.0%. This is an increase from Qfin's previous semi-annual dividend of $0.70. Qfin's dividend payout ratio is presently 19.49%.

Qfin Company 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.