Matthews International Capital Management LLC Sells 45,699 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

Matthews International Capital Management LLC decreased its stake in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 14.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 277,149 shares of the company’s stock after selling 45,699 shares during the quarter. Qfin accounts for about 1.6% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. Matthews International Capital Management LLC’s holdings in Qfin were worth $5,341,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Krane Funds Advisors LLC increased its holdings in shares of Qfin by 25.1% during the 3rd quarter. Krane Funds Advisors LLC now owns 6,344,592 shares of the company’s stock worth $182,597,000 after purchasing an additional 1,271,942 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Qfin by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock worth $72,028,000 after purchasing an additional 395,589 shares during the period. Yunqi Capital Ltd increased its holdings in shares of Qfin by 4.6% during the 3rd quarter. Yunqi Capital Ltd now owns 1,071,630 shares of the company’s stock worth $30,842,000 after purchasing an additional 47,000 shares during the period. Qube Research & Technologies Ltd increased its stake in Qfin by 78.3% in the third quarter. Qube Research & Technologies Ltd now owns 1,008,011 shares of the company’s stock valued at $29,011,000 after acquiring an additional 442,550 shares during the period. Finally, Millennium Management LLC increased its stake in Qfin by 105.4% in the third quarter. Millennium Management LLC now owns 898,471 shares of the company’s stock valued at $25,858,000 after acquiring an additional 461,023 shares during the period. Institutional investors own 74.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on QFIN. Weiss Ratings cut shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Jefferies Financial Group lowered their target price on shares of Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $22.20.

Insider Buying and Selling

In other news, Director Xiaohuan Chen purchased 190,000 shares of Qfin stock in a transaction on Friday, March 27th. The shares were purchased at an average cost of $12.89 per share, for a total transaction of $2,449,100.00. Following the completion of the transaction, the director directly owned 190,000 shares in the company, valued at approximately $2,449,100. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.10% of the stock is currently owned by company insiders.

Qfin Stock Performance

NASDAQ QFIN opened at $13.01 on Friday. The stock has a market cap of $1.85 billion, a P/E ratio of 2.11, a PEG ratio of 0.24 and a beta of 0.51. The company’s 50-day simple moving average is $13.93 and its 200 day simple moving average is $17.98. Qfin Holdings Inc. – Sponsored ADR has a twelve month low of $12.29 and a twelve month high of $47.00. The company has a quick ratio of 2.94, a current ratio of 2.43 and a debt-to-equity ratio of 0.07.

Qfin (NASDAQ:QFIN) last posted its earnings results on Saturday, February 14th. The company reported $0.59 earnings per share for the quarter. The business had revenue of $584.98 million for the quarter. Qfin had a net margin of 31.13% and a return on equity of 24.97%. As a group, research analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 3.82 earnings per share for the current fiscal year.

Qfin Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 22nd will be given a $0.78 dividend. The ex-dividend date is Wednesday, April 22nd. This represents a yield of 1,176.0%. Qfin’s payout ratio is 25.00%.

About Qfin

360 DigiTech, Inc (NASDAQ: QFIN) is a China?based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company’s flagship platform offers an end?to?end digital lending experience, from application and credit evaluation to disbursement and repayment.