Serenity Capital Management PTE. LTD. Sells 710,148 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Serenity Capital Management reduced its stake in Qfin Holdings Inc. by 67.6% during the first quarter, now holding 340,849 shares after selling 710,148 shares.
• Qfin recently announced a semi-annual dividend increase from $0.70 to $0.76, representing a yield of 528.0% and a dividend payout ratio of 19.49%.
• Despite missing quarterly earnings estimates with an EPS of $1.78, Qfin has a consensus rating of "Buy" with a price target of $51.73.

Serenity Capital Management PTE. LTD. decreased its position in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 67.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 340,849 shares of the company's stock after selling 710,148 shares during the period. Qfin makes up 9.2% of Serenity Capital Management PTE. LTD.'s holdings, making the stock its 3rd biggest holding. Serenity Capital Management PTE. LTD. owned about 0.22% of Qfin worth $15,308,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SVB Wealth LLC acquired a new position in shares of Qfin during the first quarter valued at about $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Qfin during the first quarter valued at about $29,000. Virtus Investment Advisers Inc. acquired a new position in shares of Qfin during the fourth quarter valued at about $61,000. State of Wyoming acquired a new position in shares of Qfin during the fourth quarter valued at about $97,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Qfin during the first quarter valued at about $108,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Qfin Trading Down 0.4%

NASDAQ:QFIN opened at $28.77 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.48 and a current ratio of 3.48. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 4.06, a price-to-earnings-growth ratio of 0.29 and a beta of 0.45. Qfin Holdings Inc. - Sponsored ADR has a 52 week low of $24.30 and a 52 week high of $48.94. The firm has a 50-day moving average price of $35.78 and a two-hundred day moving average price of $39.74.

Qfin (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). The firm had revenue of $728.00 million during the quarter, compared to analysts' expectations of $4.68 billion. Qfin had a net margin of 38.66% and a return on equity of 30.74%. On average, equities analysts expect that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

Qfin Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be paid a $0.76 dividend. This is a positive change from Qfin's previous semi-annual dividend of $0.70. The ex-dividend date is Monday, September 8th. This represents a yield of 528.0%. Qfin's dividend payout ratio (DPR) is 19.49%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Qfin in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 target price for the company. Wall Street Zen downgraded shares of Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $51.73.

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.

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