Qfin (NASDAQ:QFIN) Director Andrew Yan Sells 326,700 Shares of Company Stock

Key Points

• Director Andrew Yan sold 326,700 Qfin shares at an average price of $7.36, generating approximately $2.40 million in proceeds.
• Qfin shares opened at $7.30, near their one-year low of $7.28, while the stock’s 50-day and 200-day moving averages stood at $10.78 and $12.83, respectively.
• Analyst sentiment is mostly negative: Qfin has a consensus “Reduce” rating, with four sell, three hold, and one buy ratings, and an average price target of $12.29. The company also cut its dividend to $0.46 from $0.78.

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report) Director Andrew Yan sold 326,700 shares of the business's stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $7.36, for a total transaction of $2,404,512.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Qfin Stock Performance

Shares of QFIN opened at $7.30 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.17 and a current ratio of 2.17. The company has a market capitalization of $888.77 million, a price-to-earnings ratio of 1.75 and a beta of 0.57. The company's 50 day simple moving average is $10.78 and its 200 day simple moving average is $12.83. Qfin Holdings Inc. - Sponsored ADR has a 1 year low of $7.28 and a 1 year high of $31.08.

Qfin (NASDAQ:QFIN - Get Free Report) last released its earnings results on Friday, August 14th. The company reported $0.55 EPS for the quarter. The firm had revenue of $524.96 million during the quarter. Qfin had a net margin of 22.23% and a return on equity of 15.23%. On average, sell-side analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 2.42 EPS for the current year.

Qfin Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 1st. Stockholders of record on Wednesday, September 9th will be given a $0.46 dividend. This is a decrease from Qfin's previous dividend of $0.78. This represents a dividend yield of 1,070.0%. The ex-dividend date of this dividend is Wednesday, September 9th. Qfin's dividend payout ratio (DPR) is presently 21.63%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of QFIN. Caitong International Asset Management Co. Ltd grew its stake in Qfin by 813.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,669 shares of the company's stock valued at $90,000 after purchasing an additional 4,158 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in Qfin during the 1st quarter worth approximately $136,000. DGS Capital Management LLC raised its position in shares of Qfin by 8.8% in the 1st quarter. DGS Capital Management LLC now owns 10,906 shares of the company's stock valued at $141,000 after purchasing an additional 878 shares in the last quarter. Ramsey Quantitative Systems purchased a new position in shares of Qfin during the 2nd quarter valued at approximately $207,000. Finally, Royal Bank of Canada boosted its stake in shares of Qfin by 247.8% during the 1st quarter. Royal Bank of Canada now owns 24,063 shares of the company's stock valued at $311,000 after buying an additional 17,144 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company's stock.

Analysts Set New Price Targets

QFIN has been the topic of a number of research analyst reports. Zacks Research lowered Qfin from a "hold" rating to a "strong sell" rating in a research note on Friday, August 28th. Citigroup downgraded shares of Qfin from a "buy" rating to a "sell" rating and set a $8.00 price objective for the company. in a research note on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft set a $13.00 price objective on shares of Qfin in a report on Wednesday, August 12th. Morgan Stanley cut shares of Qfin from an "overweight" rating to an "equal weight" rating and set a $13.00 target price on the stock. in a research report on Wednesday, August 26th. Finally, Weiss Ratings downgraded shares of Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Qfin has a consensus rating of "Reduce" and an average price target of $12.29.

About Qfin

Qifu Technology, Inc NASDAQ: QFIN, formerly known as 360 DigiTech, Inc, is a China-based financial technology company that operates a technology-enabled consumer credit services platform. The company uses data analytics, artificial intelligence and risk-management technologies to help connect consumers seeking credit with financial institutions and other lending partners.

Qifu provides services across the consumer lending process, including customer acquisition, credit assessment, loan facilitation, risk management and post-origination support.

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