Greenwoods Asset Management Hong Kong Ltd. Has $47.93 Million Stock Position in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Greenwoods Asset Management Hong Kong cut its Qfin stake by 8% in the second quarter, selling 264,000 shares but retaining 3.03 million shares worth approximately $47.9 million. Institutional investors collectively own 74.81% of the company.
• Qfin reported quarterly revenue of $524.96 million and earnings of $0.55 per share, with a 22.23% net margin and 15.23% return on equity.
• Shares opened at $8.55, near their 52-week low, while analyst sentiment is mostly negative: the stock has a consensus “Reduce” rating and an average price target of $12.29.

Greenwoods Asset Management Hong Kong Ltd. trimmed its holdings in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,031,438 shares of the company's stock after selling 264,000 shares during the quarter. Qfin comprises about 2.2% of Greenwoods Asset Management Hong Kong Ltd.'s holdings, making the stock its 8th largest position. Greenwoods Asset Management Hong Kong Ltd. owned 2.49% of Qfin worth $47,927,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC boosted its position in shares of Qfin by 36.1% during the 2nd quarter. Headlands Technologies LLC now owns 76,651 shares of the company's stock valued at $1,212,000 after acquiring an additional 20,320 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Qfin by 128.0% during the second quarter. Wellington Management Group LLP now owns 1,034,463 shares of the company's stock worth $16,355,000 after purchasing an additional 580,772 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Qfin in the second quarter worth approximately $1,573,000. FountainVest China Capital Partners GP3 Ltd. bought a new position in shares of Qfin in the second quarter worth approximately $95,483,341. Finally, Ramsey Quantitative Systems purchased a new stake in Qfin in the second quarter valued at approximately $207,000. 74.81% of the stock is currently owned by institutional investors.

Qfin Stock Performance

Shares of NASDAQ QFIN opened at $8.55 on Thursday. The stock's 50-day moving average is $12.89 and its 200 day moving average is $13.63. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 2.06 and a beta of 0.57. Qfin Holdings Inc. - Sponsored ADR has a 1-year low of $8.35 and a 1-year high of $32.69. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03.

Qfin (NASDAQ:QFIN - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported $0.55 earnings per share (EPS) for the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%.The business had revenue of $524.96 million during the quarter. On average, sell-side analysts anticipate that Qfin Holdings Inc. - Sponsored ADR will post 2.85 EPS for the current fiscal year.

Qfin Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 1st. Stockholders of record on Wednesday, September 9th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a dividend yield of 1,032.0%. Qfin's dividend payout ratio is 37.02%.

Insider Activity

In other Qfin news, Director Xiaohuan Chen bought 4,000 shares of Qfin stock in a transaction that occurred 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 acquisition, the director owned 19,000 shares in the company, valued at approximately $273,790. This trade represents a 26.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.10% of the company's stock.

Analysts Set New Price Targets

QFIN has been the subject of several research analyst reports. Weiss Ratings lowered shares of Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, July 13th. Citigroup lowered shares of Qfin from a "buy" rating to a "sell" rating and set a $8.00 price target on the stock. in a report on Wednesday, August 26th. JPMorgan Chase & Co. cut shares of Qfin from a "neutral" rating to an "underweight" rating and lowered their price objective for the company from $13.50 to $9.00 in a research report on Wednesday, August 26th. Zacks Research downgraded shares of Qfin from a "hold" rating to a "strong sell" rating in a report on Friday, August 28th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $15.40 target price on shares of Qfin in a research report on Wednesday, August 26th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $12.29.

Qfin 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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