Matthews International Capital Management LLC Has $9.29 Million Stock Holdings in Qfin Holdings Inc. – Sponsored ADR $QFIN

Matthews International Capital Management LLC increased its position in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 18.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,848 shares of the company’s stock after purchasing an additional 49,707 shares during the quarter. Qfin makes up approximately 2.2% of Matthews International Capital Management LLC’s holdings, making the stock its 16th biggest holding. Matthews International Capital Management LLC owned approximately 0.23% of Qfin worth $9,292,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aspex Management HK Ltd grew its stake in Qfin by 30.5% during the second quarter. Aspex Management HK Ltd now owns 6,612,366 shares of the company’s stock worth $286,712,000 after buying an additional 1,547,312 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. boosted its holdings in shares of Qfin by 22.6% in the 2nd quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,295,438 shares of the company’s stock worth $142,890,000 after acquiring an additional 606,446 shares in the last quarter. Alliancebernstein L.P. grew its position in Qfin by 20.8% during the 1st quarter. Alliancebernstein L.P. now owns 2,901,566 shares of the company’s stock worth $130,309,000 after acquiring an additional 500,573 shares during the last quarter. Swedbank AB increased its holdings in Qfin by 24.2% during the 3rd quarter. Swedbank AB now owns 1,660,064 shares of the company’s stock valued at $47,777,000 after purchasing an additional 323,664 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Qfin by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock valued at $72,028,000 after purchasing an additional 395,589 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QFIN has been the topic of a number of recent analyst reports. Zacks Research lowered Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. JPMorgan Chase & Co. downgraded shares of Qfin from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $45.00 to $21.00 in a research report on Wednesday, November 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qfin in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Qfin has a consensus rating of “Hold” and an average price target of $36.85.

Qfin Stock Up 1.0%

NASDAQ QFIN opened at $20.00 on Friday. The stock has a market capitalization of $2.84 billion, a P/E ratio of 2.92, a price-to-earnings-growth ratio of 0.23 and a beta of 0.40. Qfin Holdings Inc. – Sponsored ADR has a 52 week low of $17.61 and a 52 week high of $48.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94. The stock has a fifty day moving average of $21.14 and a 200-day moving average of $29.89.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share (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 the consensus estimate of $693.21 million. Qfin had a net margin of 35.09% and a return on equity of 28.73%. On average, equities research analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current year.

Qfin Company 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.