Qfin Holdings Inc. - Sponsored ADR $QFIN Shares Sold by Lingohr Asset Management GmbH

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 lessened its holdings in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 61.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,429 shares of the company's stock after selling 61,717 shares during the period. Qfin makes up 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.

Several other institutional investors have also recently made changes to their positions in QFIN. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Qfin by 10,812.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company's stock worth $91,720,000 after purchasing an additional 2,023,590 shares during the last quarter. Krane Funds Advisors LLC raised its stake in shares of Qfin by 24.4% during the 1st quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company's stock valued at $315,849,000 after buying an additional 1,381,624 shares during the last quarter. Keystone Investors PTE Ltd. purchased a new position in shares of Qfin during the 1st quarter valued at about $52,814,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Qfin by 183.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 888,680 shares of the company's stock valued at $39,911,000 after buying an additional 575,545 shares during the last quarter. Finally, Panview Capital Ltd purchased a new position in Qfin during the first quarter valued at approximately $24,925,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

Qfin Trading Down 1.0%

NASDAQ:QFIN traded down $0.32 during trading hours on Friday, hitting $30.03. The company had a trading volume of 753,681 shares, compared to its average volume of 1,734,537. 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 company has a 50-day moving average of $33.18 and a 200 day moving average of $39.02. The company has a market cap of $4.73 billion, a P/E ratio of 4.24, a P/E/G ratio of 0.31 and a beta of 0.45. Qfin Holdings Inc. - Sponsored ADR has a 1 year low of $25.49 and a 1 year high of $48.94.

Qfin (NASDAQ:QFIN - Get Free Report) last issued its earnings results 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). Qfin had a net margin of 38.66% and a return on equity of 30.74%. The company had revenue of $728.00 million during the quarter, compared to analysts' expectations of $4.68 billion. Sell-side analysts expect that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Increases Dividend

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

Analyst Upgrades and Downgrades

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

About Qfin

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.