Hsbc Holdings PLC Has $6.59 Million Stock Holdings in Qfin Holdings Inc. – Sponsored ADR $QFIN

Hsbc Holdings PLC trimmed its stake in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 32.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 341,751 shares of the company’s stock after selling 162,174 shares during the period. Hsbc Holdings PLC owned about 0.24% of Qfin worth $6,588,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Qfin during the 1st quarter worth about $29,000. SBI Securities Co. Ltd. lifted its stake in Qfin by 6,796.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after buying an additional 1,903 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Qfin by 415.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock worth $51,000 after buying an additional 2,125 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Qfin by 24.1% in the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after buying an additional 656 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Qfin by 23.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after acquiring an additional 1,016 shares in the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qfin Price Performance

Shares of NASDAQ:QFIN opened at $15.81 on Friday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.03. Qfin Holdings Inc. – Sponsored ADR has a 1 year low of $11.31 and a 1 year high of $45.05. The business has a fifty day simple moving average of $14.09 and a 200 day simple moving average of $15.33. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 2.90 and a beta of 0.61.

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

Analysts Set New Price Targets

QFIN has been the topic of a number of recent analyst reports. Bank of America restated a “neutral” rating and set a $15.33 price target on shares of Qfin in a report on Wednesday, May 27th. Jefferies Financial Group lowered their price objective 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. Finally, Weiss Ratings raised shares of Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.91.

Insider Activity

In other news, Director Xiaohuan Chen purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average price of $14.41 per share, with a total value of $57,640.00. Following the purchase, the director owned 19,000 shares in the company, valued at $273,790. This represents a 26.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.10% of the stock is currently owned by corporate insiders.

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.