WT Asset Management Ltd Makes New $1.52 Million Investment in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• WT Asset Management Ltd invested approximately $1.52 million in Qfin Holdings Inc. during the second quarter, acquiring 35,000 shares which account for 0.1% of its total holdings.
• Qfin recently declared a semi-annual dividend of $0.76 per share, representing a significant yield increase from its previous dividend of $0.70, with a current dividend payout ratio of 21.19%.
• The company's stock had a PE ratio of 4.17 and reported earnings per share of $1.78 for the last quarter, missing analysts' estimates of $1.79.

WT Asset Management Ltd purchased a new position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,000 shares of the company's stock, valued at approximately $1,518,000. Qfin makes up 0.1% of WT Asset Management Ltd's holdings, making the stock its 28th largest holding.

Several other hedge funds also recently bought and sold shares of the stock. Krane Funds Advisors LLC increased its position in Qfin by 24.4% during 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 in the last quarter. Vanguard Group Inc. increased its position in Qfin by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,572,985 shares of the company's stock worth $205,373,000 after buying an additional 31,155 shares in the last quarter. Alliancebernstein L.P. increased its position in Qfin by 20.8% during the first quarter. Alliancebernstein L.P. now owns 2,901,566 shares of the company's stock worth $130,309,000 after buying an additional 500,573 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Qfin by 10,812.1% during 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 in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Qfin by 32.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company's stock worth $72,028,000 after buying an additional 395,589 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company's stock.

Qfin Price Performance

QFIN stock opened at $29.51 on Friday. The stock has a 50-day moving average price of $30.88 and a two-hundred day moving average price of $38.13. Qfin Holdings Inc. - Sponsored ADR has a 12-month low of $27.64 and a 12-month high of $48.94. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.65 billion, a PE ratio of 4.17, a price-to-earnings-growth ratio of 0.32 and a beta of 0.42.

Qfin (NASDAQ:QFIN - Get Free Report) last posted its quarterly 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 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 analysts' expectations of $4.68 billion. As a group, research analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current year.

Qfin Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th were given a dividend of $0.76 per share. This represents a yield of 541.0%. This is a boost from Qfin's previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Monday, September 8th. Qfin's dividend payout ratio (DPR) is presently 21.19%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on QFIN. JPMorgan Chase & Co. began coverage on Qfin in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price objective for the company. Wall Street Zen downgraded Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Qfin in a research report on Saturday, September 27th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, Qfin currently has an average 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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