Qfin (NASDAQ:QFIN) Shares Gap Up After Better-Than-Expected Earnings

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) shares gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $12.59, but opened at $13.90. Qfin shares last traded at $15.4870, with a volume of 1,853,009 shares trading hands.

The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.96 by $0.08. The company had revenue of $567.01 million for the quarter, compared to analyst estimates of $476.92 million. Qfin had a net margin of 31.13% and a return on equity of 24.97%.

Qfin Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 22nd were given a $0.78 dividend. This represents a yield of 1,176.0%. The ex-dividend date was Wednesday, April 22nd. Qfin’s dividend payout ratio (DPR) is currently 25.00%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Xiaohuan Chen acquired 190,000 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were acquired at an average price of $12.89 per share, for a total transaction of $2,449,100.00. Following the completion of the purchase, the director directly owned 190,000 shares of the company’s stock, valued at $2,449,100. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Qfin

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Qfin during the 1st quarter valued at $29,000. SBI Securities Co. Ltd. lifted its holdings in shares of Qfin by 6,796.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after buying an additional 1,903 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Qfin by 415.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock valued at $51,000 after buying an additional 2,125 shares in the last quarter. Parallel Advisors LLC grew its holdings in Qfin by 24.1% during the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after acquiring an additional 656 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Qfin by 23.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after acquiring an additional 1,016 shares during the period. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qfin Trading Up 23.4%

The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.21 billion, a P/E ratio of 2.52, a PEG ratio of 0.22 and a beta of 0.54. The firm’s 50-day simple moving average is $13.18 and its 200 day simple moving average is $16.15.

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.