KADENSA CAPITAL Ltd Purchases 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 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 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alliancebernstein L.P. grew its holdings in Qfin by 20.8% in the first quarter. Alliancebernstein L.P. now owns 2,901,566 shares of the company's stock valued at $130,309,000 after purchasing an additional 500,573 shares during the period. Royal Bank of Canada grew its holdings in Qfin by 51.7% in the first quarter. Royal Bank of Canada now owns 6,508 shares of the company's stock valued at $293,000 after purchasing an additional 2,219 shares during the period. Nomura Holdings Inc. grew its holdings in Qfin by 7.3% in the first 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 period. Panagora Asset Management Inc. grew its holdings in Qfin by 1.7% in the first 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 period. Finally, Vident Advisory LLC grew its holdings in Qfin by 41.6% in the first quarter. Vident Advisory LLC now owns 27,184 shares of the company's stock valued at $1,221,000 after purchasing an additional 7,993 shares during the period. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Qfin from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. JPMorgan Chase & Co. initiated coverage on shares of Qfin in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Qfin has a consensus rating of "Buy" and an average target price of $51.73.

Qfin Stock Performance

Shares of NASDAQ:QFIN traded down $0.32 on Wednesday, reaching $28.05. 766,820 shares of the company's stock were exchanged, compared to its average volume of 1,731,532. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 0.28 and a beta of 0.45. Qfin Holdings Inc. - Sponsored ADR has a fifty-two week low of $24.60 and a fifty-two week high of $48.94. The business's 50-day moving average is $35.18 and its two-hundred day moving average is $39.57. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). Qfin had a return on equity of 30.74% and a net margin of 38.66%.The firm had revenue of $728.00 million for the quarter, compared to the consensus estimate of $4.68 billion. As a group, equities research analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current year.

Qfin Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be issued a $0.76 dividend. This is an increase from Qfin's previous semi-annual dividend of $0.70. This represents a yield of 541.0%. The ex-dividend date is Monday, September 8th. Qfin's dividend payout ratio is currently 21.19%.

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.