Investors buy high volume put options on 360 DigiTech (NASDAQ:QFIN)

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360 DigiTech, Inc. (NASDAQ:QFIN) was the recipient of unusually large options trades on Friday. Investors bought 14,519 put options on the stock. This is an increase of approximately 651% from the typical volume of 1,934 put options.

QFIN traded at $0.49 on Friday, reaching $19.19. The company had a trading volume of 22,295 shares, compared to an average volume of 1,593,143 shares. The company has a market capitalization of $2.92 billion, a PE ratio of 3.42 and a beta of 0.54. 360 DigiTech has a 12 month minimum of $16.01 and a 12 month maximum of $45.00. The company’s 50-day simple moving average is $20.92 and its 200-day simple moving average is $21.85.

360 DigiTech Inc (NASDAQ:QFIN) last released its quarterly results on Monday, November 15. The company reported EPS of $1.52 for the quarter, beating Thomson Reuters consensus estimate of $1.33 by $0.19. 360 DigiTech had a return on equity of 48.21% and a net margin of 36.42%. The company had revenue of $715.90 million in the quarter. On average, sell-side analysts expect 360 DigiTech to post EPS of 5.55 for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 18. Shareholders of record on Wednesday, December 15 received a dividend of $0.28 per share. The ex-dividend date was Tuesday, December 14. This represents an annualized dividend of $1.12 and a dividend yield of 5.84%. 360 DigiTech’s dividend payout ratio (DPR) is currently 19.78%.

Several research companies have recently weighed in on QFIN. CLSA raised its price target on 360 DigiTech from $29.00 to $34.00 and gave the stock a “buy” rating in a Wednesday, Nov. 17 research note. Zacks Investment Research downgraded 360 DigiTech from a “buy” rating to a “hold” rating in a Thursday, January 20 research note. Finally, Citigroup raised its price target on 360 DigiTech from $24.99 to $35.15 and gave the stock a “buy” rating in a Wednesday, November 17 report. One equity research analyst gave the stock a hold rating and three gave the company’s stock a buy rating. Based on MarketBeat data, 360 DigiTech currently has an average rating of “Buy” and an average price target of $37.79.

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Several large investors have recently changed their positions in the company. Desjardins Global Asset Management Inc. acquired a new stock position in 360 DigiTech during the fourth quarter worth approximately $145,000. Allspring Global Investments Holdings LLC purchased a new position in 360 DigiTech stock during the fourth quarter, valued at approximately $222,000. NN Investment Partners Holdings NV increased its equity stake in 360 DigiTech by 15.9% during the fourth quarter. NN Investment Partners Holdings NV now owns 34,951 shares of the company valued at $802,000 after acquiring an additional 4,800 shares last quarter. Signaturefd LLC increased its stake in shares of 360 DigiTech by 128.9% during the fourth quarter. Signaturefd LLC now owns 5,046 shares of the company valued at $116,000 after acquiring 2,842 additional shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its equity stake in 360 DigiTech by 32.2% during the third quarter. UBS Asset Management Americas Inc. now owns 229,765 shares of the company valued at $4,669,000 after acquiring an additional 55,959 shares last quarter. Institutional investors and hedge funds own 48.85% of the company’s shares.

About 360 DigiTech

360 DigiTech, Inc is a holding company that engages in the provision of a digital consumer credit platform. It provides tailored online consumer credit products to prime and underserved borrowers, funded primarily through its financial partners. The company’s proprietary technology platform supports the full transaction lifecycle, from credit application to settlement.

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