Penserra Capital Management LLC reduced its stake in Qudian Inc – (NYSE:QD) by 10.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 460,797 shares of the company’s stock after selling 55,499 shares during the period. Penserra Capital Management LLC owned about 0.14% of Qudian worth $2,400,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in QD. BlackRock Inc. grew its position in shares of Qudian by 67.5% in the 2nd quarter. BlackRock Inc. now owns 1,985,840 shares of the company’s stock worth $17,595,000 after buying an additional 800,091 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Qudian in the 2nd quarter worth approximately $2,983,000. Federated Investors Inc. PA grew its position in shares of Qudian by 40.8% in the 2nd quarter. Federated Investors Inc. PA now owns 1,155,185 shares of the company’s stock worth $10,235,000 after buying an additional 334,985 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Qudian by 122.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 600,000 shares of the company’s stock worth $3,126,000 after buying an additional 330,000 shares during the last quarter. Finally, Greenwoods Asset Management Ltd bought a new stake in shares of Qudian in the 2nd quarter worth approximately $1,072,000. 5.59% of the stock is currently owned by institutional investors and hedge funds.
NYSE QD opened at $4.20 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22. Qudian Inc – has a twelve month low of $4.00 and a twelve month high of $29.30. The company has a market cap of $1.51 billion and a P/E ratio of 3.85.
Qudian (NYSE:QD) last released its quarterly earnings results on Friday, August 24th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Qudian had a return on equity of 36.88% and a net margin of 32.13%. The company had revenue of $339.07 million for the quarter.
A number of brokerages have recently weighed in on QD. Zacks Investment Research upgraded Qudian from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Sanford C. Bernstein lowered Qudian from an “outperform” rating to a “market perform” rating and set a $7.00 price objective on the stock. in a research report on Thursday, August 23rd. Needham & Company LLC lowered Qudian from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. Macquarie lowered Qudian from an “outperform” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research report on Monday, August 27th. Finally, ValuEngine lowered Qudian from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $21.20.
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Qudian Inc provides online small consumer credit products in the People's Republic of China. It uses big data-enabled technologies, including artificial intelligence and machine learning to transform the consumer finance experience. The company offers cash credit products, such as cash short-term unsecured lines of credit, which are distributed in digital form; and merchandise credit products to finance borrowers' direct purchase of merchandise offered on its marketplace on installment basis, as well as budget auto financing products.
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