Citigroup Inc. Acquires 8,515 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Citigroup Inc. increased its stake in Qfin Holdings by 3.2% in the first quarter, now owning approximately 0.18% of the company valued at about $12.47 million.
• Qfin's stock has recently declined by 4.1%, with a trading volume surpassing its average, and the stock is currently priced at $31.95, down from a high of $48.94.
• Despite missing quarterly earnings estimates, Qfin Holdings reported a return on equity of 31% and a net margin of 38.66% for the last quarter.

Citigroup Inc. grew its holdings in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 277,647 shares of the company's stock after purchasing an additional 8,515 shares during the period. Citigroup Inc. owned about 0.18% of Qfin worth $12,469,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in QFIN. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 worth $91,720,000 after buying an additional 2,023,590 shares during the last quarter. Krane Funds Advisors LLC increased its holdings in Qfin by 24.4% in the first quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company's stock worth $315,849,000 after buying an additional 1,381,624 shares during the last quarter. Aspex Management HK Ltd increased its holdings in Qfin by 11.3% in the fourth quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company's stock worth $244,550,000 after buying an additional 648,088 shares during the last quarter. Panview Capital Ltd acquired a new position in Qfin in the first quarter worth approximately $24,925,000. Finally, Marshall Wace LLP increased its holdings in Qfin by 67.5% in the fourth quarter. Marshall Wace LLP now owns 1,351,277 shares of the company's stock worth $51,862,000 after buying an additional 544,666 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company's stock.

Qfin Stock Performance

QFIN stock traded down $0.4670 during midday trading on Tuesday, hitting $29.4330. 1,214,894 shares of the company traded hands, compared to its average volume of 1,721,295. Qfin Holdings Inc. - Sponsored ADR has a twelve month low of $23.86 and a twelve month high of $48.94. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.21. The business has a 50 day simple moving average of $39.57 and a 200-day simple moving average of $41.02. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 4.16, a price-to-earnings-growth ratio of 0.40 and a beta of 0.39.

Qfin (NASDAQ:QFIN - Get Free Report) last announced its quarterly 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 net margin of 38.66% and a return on equity of 31.00%. The company had revenue of $728.00 million for the quarter, compared to analyst estimates of $4.68 billion. As a group, equities research analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen downgraded Qfin from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on Qfin in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average 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.