Qfin (NASDAQ:QFIN) Director Sells 330,000 Shares of Company Stock

Key Points

• Director Andrew Yan sold 330,000 Qfin shares at an average price of $7.52, generating approximately $2.48 million. The sale reduced his holdings by 50.25% to 326,700 shares.
• Qfin shares opened at $7.30, near their 52-week low of $7.28, while the stock’s market capitalization stood at about $888.8 million. The company reported quarterly EPS of $0.55 on revenue of $524.96 million.
• Analyst sentiment is bearish: Qfin has a consensus “Reduce” rating, with four sell, three hold, and one buy recommendation and an average price target of $12.29. The company also cut its dividend to $0.46 per share from $0.78.

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report) Director Andrew Yan sold 330,000 shares of the business's stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $7.52, for a total transaction of $2,481,600.00. Following the transaction, the director owned 326,700 shares in the company, valued at $2,456,784. This represents a 50.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Qfin Stock Performance

Shares of QFIN opened at $7.30 on Monday. Qfin Holdings Inc. - Sponsored ADR has a 52 week low of $7.28 and a 52 week high of $31.08. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.03. The business's 50 day moving average price is $10.78 and its 200-day moving average price is $12.83. The stock has a market cap of $888.77 million, a P/E ratio of 1.75 and a beta of 0.57.

Qfin (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported $0.55 EPS for the quarter. The company had revenue of $524.96 million for the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%. Equities research analysts anticipate that Qfin Holdings Inc. - Sponsored ADR will post 2.42 earnings per share for the current fiscal year.

Qfin Cuts Dividend

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

Hedge Funds Weigh In On Qfin

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

Analyst Upgrades and Downgrades

QFIN has been the subject of a number of research analyst reports. Weiss Ratings lowered Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, July 13th. Citigroup lowered shares of Qfin from a "buy" rating to a "sell" rating and set a $8.00 price objective on the stock. in a report on Wednesday, August 26th. Morgan Stanley cut Qfin from an "overweight" rating to an "equal weight" rating and set a $13.00 price objective for the company. in a research note on Wednesday, August 26th. JPMorgan Chase & Co. lowered Qfin from a "neutral" rating to an "underweight" rating and dropped their target price for the company from $13.50 to $9.00 in a research report on Wednesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft set a $13.00 price objective on shares of Qfin in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $12.29.

Qfin Company Profile

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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