OLP CAPITAL MANAGEMENT Ltd Reduces Holdings in Qfin Holdings Inc. – Sponsored ADR $QFIN

OLP CAPITAL MANAGEMENT Ltd reduced its holdings in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 23.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,010,933 shares of the company’s stock after selling 1,569,659 shares during the quarter. Qfin accounts for about 25.4% of OLP CAPITAL MANAGEMENT Ltd’s holdings, making the stock its 2nd biggest position. OLP CAPITAL MANAGEMENT Ltd owned approximately 3.53% of Qfin worth $144,215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jump Financial LLC lifted its position in Qfin by 101.8% in the 3rd quarter. Jump Financial LLC now owns 127,800 shares of the company’s stock valued at $3,678,000 after acquiring an additional 64,485 shares in the last quarter. Marshall Wace LLP boosted its stake in Qfin by 1,050.6% during the 3rd quarter. Marshall Wace LLP now owns 790,665 shares of the company’s stock valued at $22,755,000 after purchasing an additional 721,950 shares during the last quarter. Barometer Capital Management Inc. increased its holdings in Qfin by 41.8% during the 3rd quarter. Barometer Capital Management Inc. now owns 26,138 shares of the company’s stock worth $752,000 after purchasing an additional 7,700 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Qfin by 50.3% in the third quarter. BNP Paribas Financial Markets now owns 454,267 shares of the company’s stock worth $13,074,000 after purchasing an additional 151,929 shares during the last quarter. Finally, HCEP Management Ltd raised its stake in shares of Qfin by 100.5% in the third quarter. HCEP Management Ltd now owns 352,013 shares of the company’s stock worth $10,131,000 after purchasing an additional 176,432 shares during the last quarter. 74.81% of the stock is owned by institutional investors.

Qfin Trading Down 0.4%

NASDAQ:QFIN opened at $13.84 on Friday. Qfin Holdings Inc. – Sponsored ADR has a 52 week low of $13.81 and a 52 week high of $48.94. The firm has a 50-day moving average price of $15.86 and a two-hundred day moving average price of $21.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 2.02, a price-to-earnings-growth ratio of 0.20 and a beta of 0.49.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on QFIN shares. Weiss Ratings restated a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. JPMorgan Chase & Co. downgraded Qfin from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $45.00 to $21.00 in a report on Wednesday, November 19th. Finally, Zacks Research cut Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.85.

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.