Qfin (NASDAQ:QFIN) Sets New 1-Year Low – Here’s What Happened

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) shares reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $5.54 and last traded at $5.5460, with a volume of 853,268 shares. The stock had previously closed at $5.67.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Jefferies Financial Group restated a “buy” rating and set a $15.40 target price on shares of Qfin in a report on Wednesday, August 26th. Bank of America reiterated a “neutral” rating on shares of Qfin in a research note on Thursday, September 10th. Citigroup lowered shares of Qfin from a “buy” rating to a “sell” rating and set a $8.00 price target on the stock. in a research note on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft set a $13.00 price target on shares of Qfin in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. lowered shares of Qfin from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $13.50 to $9.00 in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $12.29.

Qfin Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.17 and a current ratio of 2.17. The company has a market cap of $667.20 million, a PE ratio of 1.32 and a beta of 0.55. The company’s 50-day simple moving average is $8.34 and its 200 day simple moving average is $11.96.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.55 EPS for the quarter. Qfin had a net margin of 22.23% and a return on equity of 15.23%. The business had revenue of $524.96 million during the quarter. On average, sell-side analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 2.43 earnings per share for the current fiscal year.

Qfin Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, October 1st. Investors of record on Wednesday, September 9th were issued a $0.46 dividend. This represents a yield of 1,070.0%. This is a drop from Qfin’s previous dividend of $0.78. The ex-dividend date was Wednesday, September 9th. Qfin’s dividend payout ratio (DPR) is 21.63%.

Insider Buying and Selling

In related news, Director Andrew Yan sold 330,000 shares of the business’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $7.52, for a total transaction of $2,481,600.00. Following the completion of the transaction, the director directly owned 326,700 shares of the company’s stock, valued at $2,456,784. The trade was a 50.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 657,550 shares of company stock worth $4,889,121. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Qfin

Several large investors have recently bought and sold shares of the stock. DGS Capital Management LLC raised its holdings in Qfin by 8.8% in the first quarter. DGS Capital Management LLC now owns 10,906 shares of the company’s stock valued at $141,000 after acquiring an additional 878 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Qfin by 813.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,669 shares of the company’s stock worth $90,000 after acquiring an additional 4,158 shares during the last quarter. APEIRON CAPITAL Ltd lifted its stake in Qfin by 0.4% in the first quarter. APEIRON CAPITAL Ltd now owns 1,032,055 shares of the company’s stock worth $13,324,000 after acquiring an additional 4,600 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Qfin during the 1st quarter worth approximately $136,000. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Qfin in the 2nd quarter valued at approximately $207,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

About Qfin

Qifu Technology, Inc, formerly known as 360 DigiTech, Inc and 360 Finance, is a China-based financial technology company. The company operates a technology platform that connects consumers seeking credit with financial institutions and other lending partners.

Qifu provides online consumer finance services, including credit assessment, loan facilitation, risk management, and post-loan servicing. Its technology uses data analysis, artificial intelligence, and automated tools to support borrower acquisition, underwriting, transaction processing, and credit monitoring.