Russell Investments Group Ltd. Sells 78,746 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Russell Investments Group Ltd. reduced its holdings in Qfin Holdings Inc. by 8.2%, now owning approximately $39.76 million worth of the company.
• New stakes in Qfin have been acquired by several institutional investors, with 74.81% of the stock currently owned by such entities.
• Qfin's latest earnings report showed a miss on EPS estimates, reporting $1.78 compared to the consensus estimate of $1.79.

Russell Investments Group Ltd. lowered its stake in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 8.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 877,959 shares of the company's stock after selling 78,746 shares during the period. Russell Investments Group Ltd. owned about 0.56% of Qfin worth $39,762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. GeoWealth Management LLC purchased a new stake in shares of Qfin during the 4th quarter worth about $26,000. Virtus Investment Advisers Inc. bought a new stake in Qfin in the fourth quarter worth approximately $61,000. State of Wyoming bought a new stake in Qfin in the fourth quarter worth approximately $97,000. Headlands Technologies LLC acquired a new position in shares of Qfin during the 1st quarter worth $151,000. Finally, Burns Matteson Capital Management LLC bought a new position in shares of Qfin during the 1st quarter valued at $201,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. 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 lowered Qfin from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $51.73.

Qfin Stock Performance

QFIN traded down $0.4450 during midday trading on Tuesday, reaching $29.4550. The company's stock had a trading volume of 1,624,287 shares, compared to its average volume of 1,724,062. 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 current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.21. The stock has a market cap of $4.64 billion, a P/E ratio of 4.16, a PEG ratio of 0.40 and a beta of 0.39. The company has a fifty day simple moving average of $39.57 and a 200 day simple moving average of $41.02.

Qfin (NASDAQ:QFIN - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $1.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). Qfin had a return on equity of 31.00% and a net margin of 38.66%.The company had revenue of $728.00 million for the quarter, compared to the consensus estimate of $4.68 billion. Research analysts expect that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Company 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.