State Street Corp increased its stake in shares of 360 Finance Inc (NASDAQ:QFIN) by 79.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 159,823 shares of the company’s stock after acquiring an additional 70,629 shares during the period. State Street Corp owned 0.11% of 360 Finance worth $1,279,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nuveen Asset Management LLC acquired a new stake in 360 Finance in the 4th quarter valued at approximately $98,000. Marshall Wace North America L.P. acquired a new stake in 360 Finance in the 4th quarter valued at approximately $135,000. Geode Capital Management LLC acquired a new stake in 360 Finance in the 4th quarter valued at approximately $140,000. Pictet Asset Management Ltd. acquired a new stake in 360 Finance in the 4th quarter valued at approximately $176,000. Finally, Barclays PLC grew its holdings in 360 Finance by 86.4% in the 4th quarter. Barclays PLC now owns 20,500 shares of the company’s stock valued at $200,000 after buying an additional 9,500 shares during the last quarter. 34.35% of the stock is currently owned by hedge funds and other institutional investors.
360 Finance stock opened at $10.71 on Wednesday. The company has a market capitalization of $1.62 billion, a PE ratio of 5.70 and a beta of 0.64. 360 Finance Inc has a one year low of $6.37 and a one year high of $12.05. The business has a 50 day simple moving average of $9.89 and a 200 day simple moving average of $8.93.
360 Finance (NASDAQ:QFIN) last posted its earnings results on Thursday, May 28th. The company reported $1.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $1.35. 360 Finance had a return on equity of 30.31% and a net margin of 18.94%. The business had revenue of $449.11 million during the quarter. On average, sell-side analysts anticipate that 360 Finance Inc will post 2.32 EPS for the current year.
Several analysts have recently weighed in on the company. ValuEngine lowered 360 Finance from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 23rd. BidaskClub raised 360 Finance from a “sell” rating to a “hold” rating in a report on Tuesday. TheStreet lowered 360 Finance from a “c” rating to a “d+” rating in a report on Thursday, June 18th. Morgan Stanley initiated coverage on 360 Finance in a research report on Friday, April 24th. They set an “overweight” rating and a $12.40 target price for the company. Finally, Zacks Investment Research downgraded 360 Finance from a “hold” rating to a “sell” rating in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.70.
360 Finance Profile
360 Finance, Inc operates a digital consumer finance platform in China. Its platform provides online consumer finance products to prime and underserved borrowers. The company was founded in 2016 and is headquartered in Shanghai, China.
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