Zacks Investment Research upgraded shares of Jiayin Group (NASDAQ:JFIN) from a hold rating to a buy rating in a report published on Thursday, Zacks.com reports. The brokerage currently has $7.75 target price on the stock.
According to Zacks, “Jiayin Group Inc. provides online individual finance services. The Company’s loan facilitation service mainly matches investors and borrowers. Jiayin Group Inc. is based in Shanghai, China. “
Separately, Roth Capital boosted their target price on shares of Jiayin Group from $9.25 to $10.40 and gave the company a buy rating in a research note on Tuesday.
Jiayin Group (NASDAQ:JFIN) last posted its quarterly earnings results on Sunday, June 6th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.37. Jiayin Group had a net margin of 23.09% and a negative return on equity of 56.44%. On average, sell-side analysts expect that Jiayin Group will post 0.82 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV bought a new stake in Jiayin Group during the fourth quarter valued at $32,000. Citadel Advisors LLC bought a new position in shares of Jiayin Group during the first quarter worth about $170,000. Millennium Management LLC grew its position in shares of Jiayin Group by 97.9% during the first quarter. Millennium Management LLC now owns 42,572 shares of the company’s stock worth $351,000 after acquiring an additional 21,065 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Jiayin Group during the fourth quarter worth about $112,000. Finally, Koshinski Asset Management Inc. bought a new position in shares of Jiayin Group during the fourth quarter worth about $1,052,000.
Jiayin Group Company Profile
Jiayin Group Inc operates as an online individual finance platform that connects individual investors and individual borrowers in China. It operates a secure and open platform that facilitates transparent, secure, and fast connections between investors and borrowers. The company was founded in 2011 and is based in Shanghai, the People's Republic of China.
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