Krane Funds Advisors LLC Sells 674,901 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

Krane Funds Advisors LLC trimmed its stake in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 10.6% in the 4th quarter, HoldingsChannel reports. The firm owned 5,669,691 shares of the company’s stock after selling 674,901 shares during the period. Qfin makes up 3.5% of Krane Funds Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Krane Funds Advisors LLC’s holdings in Qfin were worth $109,255,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Cape Ann Asset Management Ltd purchased a new stake in Qfin during the 3rd quarter worth about $14,698,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Qfin by 741.9% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 579,568 shares of the company’s stock worth $11,165,000 after acquiring an additional 510,730 shares in the last quarter. Prudential PLC lifted its stake in Qfin by 15.8% during the third quarter. Prudential PLC now owns 820,581 shares of the company’s stock worth $23,616,000 after purchasing an additional 112,087 shares during the last quarter. American Century Companies Inc. boosted its holdings in Qfin by 20.6% in the third quarter. American Century Companies Inc. now owns 794,274 shares of the company’s stock valued at $22,859,000 after purchasing an additional 135,462 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Qfin by 64.2% in the third quarter. Public Sector Pension Investment Board now owns 606,743 shares of the company’s stock valued at $17,462,000 after purchasing an additional 237,300 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Insider Buying and Selling at Qfin

In other news, Director Xiaohuan Chen acquired 190,000 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were purchased at an average cost of $12.89 per share, for a total transaction of $2,449,100.00. Following the transaction, the director directly owned 190,000 shares in the company, valued at approximately $2,449,100. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 17.10% of the stock is currently owned by corporate insiders.

Qfin Price Performance

Shares of NASDAQ:QFIN opened at $14.53 on Monday. Qfin Holdings Inc. – Sponsored ADR has a one year low of $11.31 and a one year high of $46.18. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 2.66, a PEG ratio of 0.27 and a beta of 0.61. The company has a 50-day simple moving average of $13.54 and a 200-day simple moving average of $15.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22.

Qfin (NASDAQ:QFIN) last issued its quarterly earnings results on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. The firm had revenue of $567.01 million for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%. On average, analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 3.79 EPS for the current year.

Qfin Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 22nd were paid a dividend of $0.78 per share. This represents a dividend yield of 1,176.0%. The ex-dividend date was Wednesday, April 22nd. Qfin’s dividend payout ratio is 28.21%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on QFIN shares. Jefferies Financial Group dropped their target price on shares of Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Bank of America reaffirmed a “neutral” rating and set a $15.33 price objective on shares of Qfin in a report on Wednesday, May 27th. Finally, Weiss Ratings raised Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.91.

Qfin Profile

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.