Creative Planning Raises Position in Qfin Holdings Inc. – Sponsored ADR $QFIN

Creative Planning increased its stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 12.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,112 shares of the company’s stock after buying an additional 5,574 shares during the quarter. Creative Planning’s holdings in Qfin were worth $2,129,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QFIN. SVB Wealth LLC purchased a new position in Qfin in the 1st quarter worth approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Qfin during the first quarter worth $29,000. Hantz Financial Services Inc. boosted its stake in shares of Qfin by 472.9% in the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock valued at $32,000 after purchasing an additional 610 shares during the period. Hoey Investments Inc. acquired a new stake in Qfin during the 2nd quarter valued at $33,000. Finally, iA Global Asset Management Inc. grew its holdings in Qfin by 250.2% during the 2nd quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock valued at $36,000 after purchasing an additional 588 shares in the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Qfin Trading Up 7.3%

Shares of NASDAQ QFIN opened at $19.48 on Wednesday. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average price is $25.51 and its two-hundred day moving average price is $33.61. Qfin Holdings Inc. – Sponsored ADR has a 52-week low of $17.61 and a 52-week high of $48.94. The stock has a market capitalization of $2.77 billion, a P/E ratio of 2.84, a PEG ratio of 0.19 and a beta of 0.39.

Qfin (NASDAQ:QFIN) last issued its earnings results on Tuesday, November 18th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.16). The firm had revenue of $731.04 million during the quarter, compared to analyst estimates of $693.21 million. Qfin had a return on equity of 28.73% and a net margin of 35.09%. On average, analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on QFIN shares. JPMorgan Chase & Co. cut shares of Qfin from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $21.00 in a research report on Wednesday, November 19th. Zacks Research upgraded Qfin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Wall Street Zen downgraded Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Finally, Weiss Ratings lowered Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.85.

Qfin Company Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.