Monashee Investment Management LLC Purchases New Position 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 acquired a new position in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 50,000 shares of the company's stock, valued at approximately $2,246,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Qfin by 10,812.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company's stock valued at $91,720,000 after purchasing an additional 2,023,590 shares in the last quarter. Krane Funds Advisors LLC raised its stake in Qfin by 24.4% in the first quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company's stock valued at $315,849,000 after purchasing an additional 1,381,624 shares in the last quarter. Keystone Investors PTE Ltd. purchased a new stake in Qfin in the first quarter valued at approximately $52,814,000. Aspex Management HK Ltd raised its stake in Qfin by 11.3% in the fourth quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company's stock valued at $244,550,000 after purchasing an additional 648,088 shares in the last quarter. Finally, Panview Capital Ltd purchased a new stake in Qfin in the first quarter valued at approximately $24,925,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

Analyst Upgrades and Downgrades

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

Qfin Trading Down 2.1%

Shares of QFIN traded down $0.65 during trading hours on Tuesday, hitting $30.42. The company had a trading volume of 579,535 shares, compared to its average volume of 1,742,510. The firm has a market cap of $4.79 billion, a P/E ratio of 4.30, a P/E/G ratio of 0.32 and a beta of 0.39. The stock's 50 day moving average price is $38.41 and its 200 day moving average price is $40.64. 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 52-week low of $24.30 and a 52-week high of $48.94.

Qfin (NASDAQ:QFIN - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $4.68 billion. On average, research analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current year.

Qfin Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be issued a dividend of $0.76 per share. The ex-dividend date is Monday, September 8th. This represents a yield of 440.0%. This is a boost from Qfin's previous semi-annual dividend of $0.70. Qfin's dividend payout ratio (DPR) is presently 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.