Monashee Investment Management LLC Invests $2.25 Million in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Monashee Investment Management LLC invested approximately $2.25 million in shares of Qfin Holdings Inc., purchasing 50,000 shares during the first quarter.
• Qfin announced a semi-annual dividend increase to $0.76, up from the previous $0.70, representing a 440% yield.
• Analysts currently rate Qfin with a consensus of "Buy," with a price target averaging $51.73, despite a recent downgrade from a "strong-buy."

Monashee Investment Management LLC 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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 50,000 shares of the company's stock, valued at approximately $2,246,000.

Other large investors have also modified their holdings of the company. GeoWealth Management LLC purchased a new stake in shares of Qfin during the fourth quarter worth $26,000. Virtus Investment Advisers Inc. purchased a new stake in shares of Qfin in the fourth quarter valued at about $61,000. State of Wyoming purchased a new stake in shares of Qfin in the fourth quarter valued at about $97,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Qfin in the first quarter valued at about $108,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Qfin in the first quarter valued at about $151,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

Qfin Trading Down 1.2%

Shares of QFIN traded down $0.38 during trading on Monday, reaching $31.07. 1,330,435 shares of the company traded hands, compared to its average volume of 1,749,938. The stock has a 50-day simple moving average of $38.64 and a 200-day simple moving average of $40.72. 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 Holdings Inc. - Sponsored ADR has a twelve month low of $24.30 and a twelve month high of $48.94. The stock has a market cap of $4.90 billion, a PE ratio of 4.39, a price-to-earnings-growth ratio of 0.32 and a beta of 0.39.

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

Qfin Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, September 8th. This is an increase from Qfin's previous semi-annual dividend of $0.70. This represents a yield of 440.0%. Qfin's dividend payout ratio is 19.49%.

Wall Street Analysts Forecast Growth

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

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.