River & Mercantile Asset Management LLP increased its stake in Qiwi PLC (NASDAQ:QIWI) by 28.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 408,776 shares of the credit services provider’s stock after purchasing an additional 89,548 shares during the period. River & Mercantile Asset Management LLP owned 0.91% of Qiwi worth $5,386,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in Qiwi during the 3rd quarter valued at $116,000. Engineers Gate Manager LP bought a new stake in Qiwi during the 2nd quarter valued at $158,000. Stevens Capital Management LP bought a new stake in Qiwi during the 3rd quarter valued at $168,000. Capital Fund Management S.A. bought a new stake in Qiwi during the 2nd quarter valued at $359,000. Finally, Trexquant Investment LP bought a new stake in Qiwi during the 3rd quarter valued at $432,000. 29.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of Qiwi stock opened at $14.43 on Friday. The firm has a market cap of $657.36 million, a price-to-earnings ratio of 13.88 and a beta of 2.29. Qiwi PLC has a 1-year low of $11.61 and a 1-year high of $20.05.
Several analysts have weighed in on QIWI shares. UBS Group cut their target price on Qiwi from $24.50 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 24th. Zacks Investment Research raised Qiwi from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, August 15th. BidaskClub raised Qiwi from a “hold” rating to a “buy” rating in a research note on Tuesday, November 27th. TheStreet downgraded Qiwi from a “b-” rating to a “c” rating in a research note on Wednesday, September 12th. Finally, ValuEngine raised Qiwi from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.33.
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Qiwi plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russian Federation, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally. The company offers payment services across online, mobile, and physical channels through a network of approximately 109,000 kiosks and 43,000 terminals that run its proprietary software.
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