Lingohr Asset Management GmbH Lowers Holdings in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Lingohr Asset Management GmbH significantly reduced its stake in Qfin Holdings Inc. by 61.0%, now holding only 39,429 shares valued at approximately $1.71 million.
• Qfin recently declared a new semi-annual dividend of $0.76, up from the previous $0.70, yielding 541.0%.
• Wall Street analysts have mixed views on Qfin, with one firm lowering its rating from "buy" to "hold", while others maintain a "Buy" consensus with a target price of $51.73.

Lingohr Asset Management GmbH lowered its holdings in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 61.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,429 shares of the company's stock after selling 61,717 shares during the period. Qfin makes up about 3.1% of Lingohr Asset Management GmbH's holdings, making the stock its 3rd biggest position. Lingohr Asset Management GmbH's holdings in Qfin were worth $1,710,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SVB Wealth LLC bought a new stake in shares of Qfin in the first quarter valued at approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Qfin in the first quarter valued at approximately $29,000. Virtus Investment Advisers Inc. bought a new stake in shares of Qfin in the fourth quarter valued at approximately $61,000. State of Wyoming bought a new stake in shares of Qfin in the fourth quarter valued at approximately $97,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Qfin in the first quarter valued at approximately $108,000. Institutional investors own 74.81% of the company's stock.

Wall Street Analysts Forecast Growth

QFIN has been the topic of several research reports. Wall Street Zen lowered shares of Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. began coverage on shares of Qfin in a 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 MarketBeat, Qfin currently has a consensus rating of "Buy" and a consensus target price of $51.73.

Qfin Stock Performance

Qfin stock opened at $28.36 on Monday. The firm's 50 day simple moving average is $34.30 and its 200 day simple moving average is $39.29. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $4.47 billion, a PE ratio of 4.01, a price-to-earnings-growth ratio of 0.29 and a beta of 0.45. Qfin Holdings Inc. - Sponsored ADR has a 1-year low of $24.78 and a 1-year high of $48.94.

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

Qfin Increases Dividend

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

Qfin 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.

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