KADENSA CAPITAL Ltd Buys Shares of 132,769 Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• KADENSA CAPITAL Ltd has made a new investment of $5.96 million in Qfin Holdings Inc., acquiring 132,769 shares, which represents approximately 0.08% of the company.
• Several large institutional investors have increased their holdings in Qfin, with Mirae Asset Global Investments increasing its position by an astounding 10,812.1% during the same quarter.
• Qfin recently declared a semi-annual dividend of $0.76 per share, yielding an impressive 440.0%, which is an increase from the previous dividend of $0.70.

KADENSA CAPITAL Ltd bought a new stake in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 132,769 shares of the company's stock, valued at approximately $5,963,000. KADENSA CAPITAL Ltd owned about 0.08% of Qfin as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alliancebernstein L.P. boosted its position in shares of Qfin by 20.8% in the 1st quarter. Alliancebernstein L.P. now owns 2,901,566 shares of the company's stock worth $130,309,000 after purchasing an additional 500,573 shares in the last quarter. Royal Bank of Canada raised its position in shares of Qfin by 51.7% during the 1st quarter. Royal Bank of Canada now owns 6,508 shares of the company's stock worth $293,000 after purchasing an additional 2,219 shares during the last quarter. Nomura Holdings Inc. boosted its holdings in Qfin by 7.3% in the 1st quarter. Nomura Holdings Inc. now owns 13,200 shares of the company's stock valued at $593,000 after purchasing an additional 900 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Qfin by 1.7% in the 1st quarter. Panagora Asset Management Inc. now owns 191,724 shares of the company's stock valued at $8,610,000 after purchasing an additional 3,219 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in shares of Qfin by 41.6% during the first quarter. Vident Advisory LLC now owns 27,184 shares of the company's stock worth $1,221,000 after purchasing an additional 7,993 shares in the last quarter. 74.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Qfin Stock Performance

QFIN traded down $0.66 during trading on Monday, hitting $28.11. The stock had a trading volume of 1,260,546 shares, compared to its average volume of 1,895,070. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48. Qfin Holdings Inc. - Sponsored ADR has a one year low of $24.31 and a one year high of $48.94. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 3.97, a P/E/G ratio of 0.29 and a beta of 0.45. The company has a 50 day moving average price of $35.48 and a 200-day moving average price of $39.65.

Qfin (NASDAQ:QFIN - Get Free Report) last released 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 the consensus estimate of $4.68 billion. Qfin had a return on equity of 30.74% and a net margin of 38.66%. As a group, research analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current year.

Qfin Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be paid a $0.76 dividend. The ex-dividend date is Monday, September 8th. This represents a dividend yield of 541.0%. This is a boost from Qfin's previous semi-annual dividend of $0.70. Qfin's dividend payout ratio (DPR) is 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.