Cetera Investment Advisers Lowers Position in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN)

Cetera Investment Advisers decreased its stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 2.7% in the 1st quarter, Holdings Channel reports. The firm owned 12,870 shares of the company’s stock after selling 354 shares during the quarter. Cetera Investment Advisers’ holdings in Qfin were worth $578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC acquired a new position in Qfin during the fourth quarter worth about $26,000. Virtus Investment Advisers Inc. acquired a new position in Qfin during the fourth quarter worth about $61,000. State of Wyoming acquired a new position in Qfin during the fourth quarter worth about $97,000. Burns Matteson Capital Management LLC acquired a new position in Qfin during the first quarter worth about $201,000. Finally, Ballentine Partners LLC acquired a new position in Qfin during the first quarter worth about $206,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qfin Price Performance

QFIN opened at $31.95 on Friday. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.21. Qfin Holdings Inc. – Sponsored ADR has a 52-week low of $23.81 and a 52-week high of $48.94. The company has a 50 day moving average of $39.82 and a two-hundred day moving average of $41.09. The company has a market cap of $5.04 billion, a P/E ratio of 4.51, a P/E/G ratio of 0.41 and a beta of 0.39.

Qfin (NASDAQ:QFIN) last released its quarterly earnings data on Thursday, August 14th. The company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). Qfin had a return on equity of 31.00% and a net margin of 38.66%. The business had revenue of $728.00 million for the quarter, compared to analysts’ expectations of $4.68 billion. On average, analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on QFIN shares. JPMorgan Chase & Co. started coverage on shares of Qfin in a research report on Wednesday, July 2nd. They set an “overweight” rating and a $65.00 target price for the company. Wall Street Zen downgraded shares of Qfin from a “strong-buy” rating to a “buy” rating in a report on Friday, July 18th.

Qfin 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.