MY.Alpha Management HK Advisors Ltd Sells 179,474 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• MY.Alpha Management HK Advisors Ltd reduced its stake in Qfin Holdings Inc. by 38.7%, selling 179,474 shares and holding 284,119 shares as of the latest SEC filing.
• Mirae Asset Global Investments Co. Ltd. significantly increased its investment in Qfin, boosting its stake by 10,812.1% to over 2 million shares valued at approximately $91.7 million.
• Qfin recently reported earnings of $1.78 per share, missing analysts' estimates, and has a market cap of $5.04 billion.

MY.Alpha Management HK Advisors Ltd lowered its position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 38.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 284,119 shares of the company's stock after selling 179,474 shares during the period. Qfin accounts for approximately 6.3% of MY.Alpha Management HK Advisors Ltd's investment portfolio, making the stock its 5th biggest holding. MY.Alpha Management HK Advisors Ltd owned approximately 0.18% of Qfin worth $12,760,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in QFIN. GeoWealth Management LLC bought a new position in Qfin during the 4th quarter worth $26,000. Virtus Investment Advisers Inc. bought a new position in Qfin during the 4th quarter worth $61,000. Caitong International Asset Management Co. Ltd bought a new position in Qfin during the 1st quarter worth $108,000. State of Wyoming bought a new position in Qfin during the 4th quarter worth $97,000. Finally, Headlands Technologies LLC bought a new position in Qfin during the 1st quarter worth $151,000. Institutional investors own 74.81% of the company's stock.

Analysts Set New Price Targets

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

Qfin Price Performance

Shares of QFIN stock traded up $0.78 during trading hours on Friday, reaching $31.45. The company's stock had a trading volume of 1,580,249 shares, compared to its average volume of 2,307,090. The company has a quick ratio of 3.08, a current ratio of 3.48 and a debt-to-equity ratio of 0.20. Qfin Holdings Inc. - Sponsored ADR has a fifty-two week low of $24.30 and a fifty-two week high of $48.94. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 4.44, a PEG ratio of 0.31 and a beta of 0.39. The firm's 50 day simple moving average is $38.64 and its 200-day simple moving average is $40.73.

Qfin (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported $1.78 earnings per share 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 firm had revenue of $728.00 million for the quarter, compared to analyst estimates of $4.68 billion. Sell-side analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a yield of 440.0%. This is an increase from Qfin's previous semi-annual dividend of $0.70. Qfin's dividend payout ratio is 21.19%.

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.