Qfin (NASDAQ:QFIN) Reaches New 52-Week Low - Here's Why

Key Points

• Qfin Holdings Inc. (NASDAQ:QFIN) has reached a new 52-week low with shares trading at $26.10, reflecting a significant drop from its previous close of $26.52.
• The company recently announced a semi-annual dividend of $0.76, which is an increase from the previous $0.70 dividend, representing a notable 541.0% yield.
• Despite the low share price, Qfin maintains a consensus buy rating among analysts, with a target price of $51.73.

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $26.10 and last traded at $26.18, with a volume of 1160060 shares. The stock had previously closed at $26.52.

Analyst Upgrades and Downgrades

QFIN has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Qfin from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Qfin in a report on Wednesday, October 8th. Finally, 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 target for the company. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $51.73.

Qfin Price Performance

The company has a market capitalization of $3.72 billion, a P/E ratio of 3.70, a P/E/G ratio of 0.28 and a beta of 0.42. The business's 50-day simple moving average is $29.88 and its 200 day simple moving average is $37.13. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $1.78 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). Qfin had a return on equity of 30.74% 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. As a group, sell-side analysts anticipate that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current year.

Qfin Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th were given a $0.76 dividend. This represents a dividend yield of 541.0%. This is an increase from Qfin's previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Monday, September 8th. Qfin's payout ratio is 21.19%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QFIN. Yousif Capital Management LLC purchased a new position in Qfin during the first quarter valued at approximately $209,000. Matthews International Capital Management LLC purchased a new position in Qfin during the first quarter valued at approximately $4,025,000. Oppenheimer & Co. Inc. purchased a new position in Qfin during the first quarter valued at approximately $208,000. Asset Management One Co. Ltd. grew its position in Qfin by 36.1% during the first quarter. Asset Management One Co. Ltd. now owns 44,755 shares of the company's stock valued at $2,010,000 after purchasing an additional 11,882 shares in the last quarter. Finally, APEIRON CAPITAL Ltd bought a new stake in Qfin in the first quarter worth approximately $19,016,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

About Qfin

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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