Qfin Holdings Inc. - Sponsored ADR $QFIN Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its Qfin stake by 65.2% in the first quarter, selling 94,765 shares and retaining 50,535 shares valued at approximately $652,000. Institutional investors and hedge funds collectively own 74.81% of the stock, despite several other firms increasing their positions.
• Qfin shares opened at $12.27, down 1.8%, near the lower end of their 52-week range of $11.31 to $32.69. The company reported quarterly earnings of $1.12 per share on $567.01 million in revenue, with a 27.48% net margin.
• Analyst sentiment remains cautious: Qfin has an overall “Hold” rating, with one Buy, four Hold, and one Sell recommendation, and an average price target of $16.31. Director Xiaohuan Chen purchased 4,000 shares, while insiders own 17.10% of the company.

Bank of New York Mellon Corp lessened its stake in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 65.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 50,535 shares of the company's stock after selling 94,765 shares during the quarter. Bank of New York Mellon Corp's holdings in Qfin were worth $652,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Qfin by 741.9% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 579,568 shares of the company's stock valued at $11,165,000 after buying an additional 510,730 shares in the last quarter. APEIRON CAPITAL Ltd raised its stake in Qfin by 29.5% during the 4th quarter. APEIRON CAPITAL Ltd now owns 1,027,455 shares of the company's stock worth $19,799,000 after acquiring an additional 234,000 shares in the last quarter. BRIGHT VALLEY CAPITAL Ltd lifted its position in Qfin by 67.0% in the fourth quarter. BRIGHT VALLEY CAPITAL Ltd now owns 225,500 shares of the company's stock valued at $4,345,000 after acquiring an additional 90,500 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in Qfin by 13.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 638,080 shares of the company's stock valued at $12,296,000 after acquiring an additional 76,906 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Qfin by 108.5% in the fourth quarter. BNP Paribas Financial Markets now owns 947,274 shares of the company's stock valued at $18,254,000 after acquiring an additional 493,007 shares in the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Qfin Stock Down 1.8%

Shares of Qfin stock opened at $12.27 on Friday. Qfin Holdings Inc. - Sponsored ADR has a one year low of $11.31 and a one year high of $32.69. The company has a market cap of $1.49 billion, a P/E ratio of 2.25 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22. The firm has a fifty day moving average of $14.11 and a two-hundred day moving average of $14.14.

Qfin (NASDAQ:QFIN - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported $1.12 earnings per share for the quarter. The business had revenue of $567.01 million for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. On average, analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 3.74 earnings per share for the current year.

Insiders Place Their Bets

In other Qfin news, Director Xiaohuan Chen bought 4,000 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $14.41 per share, for a total transaction of $57,640.00. Following the transaction, the director owned 19,000 shares of the company's stock, valued at approximately $273,790. This trade represents a 26.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 17.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Zacks Research raised Qfin from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft set a $13.00 price target on Qfin in a research report on Wednesday. Bank of America reiterated a "neutral" rating and issued a $15.33 price objective on shares of Qfin in a research note on Wednesday, May 27th. Weiss Ratings downgraded Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Qfin from $14.50 to $13.50 and set a "neutral" rating on the stock in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $16.31.

Qfin Company Profile

360 DigiTech, Inc NASDAQ: QFIN is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company's flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.

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