510,700 Shares in Qfin Holdings Inc. – Sponsored ADR $QFIN Bought by Cape Ann Asset Management Ltd

Cape Ann Asset Management Ltd acquired a new stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 510,700 shares of the company’s stock, valued at approximately $14,698,000. Qfin accounts for 5.0% of Cape Ann Asset Management Ltd’s investment portfolio, making the stock its 9th biggest position. Cape Ann Asset Management Ltd owned about 0.36% of Qfin as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in QFIN. OVERSEA CHINESE BANKING Corp Ltd raised its position in Qfin by 193.7% during the 2nd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 82,378 shares of the company’s stock worth $3,571,000 after buying an additional 54,325 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of Qfin by 929.7% during the second quarter. Y Intercept Hong Kong Ltd now owns 155,944 shares of the company’s stock worth $6,762,000 after acquiring an additional 140,800 shares during the period. APEIRON CAPITAL Ltd raised its holdings in Qfin by 47.5% during the third quarter. APEIRON CAPITAL Ltd now owns 793,455 shares of the company’s stock worth $22,836,000 after purchasing an additional 255,400 shares in the last quarter. Virtus Family Office LLC purchased a new position in Qfin during the second quarter worth about $1,428,000. Finally, Jupiter Asset Management Ltd. lifted its position in Qfin by 2,878.6% in the second quarter. Jupiter Asset Management Ltd. now owns 390,200 shares of the company’s stock valued at $16,919,000 after purchasing an additional 377,100 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QFIN. Weiss Ratings reissued a “hold (c)” rating on shares of Qfin in a research note on Monday, December 29th. Zacks Research cut Qfin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. downgraded Qfin from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $45.00 to $21.00 in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Qfin has a consensus rating of “Hold” and a consensus target price of $36.85.

Qfin Stock Performance

NASDAQ QFIN opened at $14.94 on Friday. The business has a 50 day moving average price of $17.30 and a 200 day moving average price of $23.18. The company has a market capitalization of $2.12 billion, a P/E ratio of 2.18, a PEG ratio of 0.22 and a beta of 0.52. Qfin Holdings Inc. – Sponsored ADR has a 1-year low of $14.71 and a 1-year high of $48.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.94 and a quick ratio of 2.94.

Qfin (NASDAQ:QFIN) last posted its earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share 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 net margin of 35.09% and a return on equity of 28.73%. Sell-side analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS 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.