Allianz Asset Management GmbH Lowers Position in Qfin Holdings Inc. – Sponsored ADR $QFIN

Allianz Asset Management GmbH lessened its stake in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 33.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 500,698 shares of the company’s stock after selling 251,807 shares during the period. Allianz Asset Management GmbH’s holdings in Qfin were worth $14,410,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Qfin during the 1st quarter valued at about $29,000. Hantz Financial Services Inc. raised its stake in Qfin by 472.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock worth $32,000 after acquiring an additional 610 shares during the period. iA Global Asset Management Inc. lifted its holdings in Qfin by 250.2% during the second 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. First Horizon Advisors Inc. bought a new position in shares of Qfin in the second quarter worth approximately $60,000. Finally, Rexford Capital Inc. bought a new position in shares of Qfin in the second quarter worth approximately $78,000. Institutional investors own 74.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on QFIN. JPMorgan Chase & Co. downgraded 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 lowered Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Qfin presently has a consensus rating of “Hold” and an average price target of $36.85.

Qfin Price Performance

Shares of NASDAQ:QFIN opened at $16.08 on Friday. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 2.34, a P/E/G ratio of 0.24 and a beta of 0.52. The firm has a fifty day moving average price of $18.05 and a 200 day moving average price of $24.47. Qfin Holdings Inc. – Sponsored ADR has a fifty-two week low of $14.79 and a fifty-two 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.

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

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.