Millennium Management LLC lessened its stake in shares of Qudian Inc – (NYSE:QD) by 69.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,182 shares of the company’s stock after selling 56,523 shares during the quarter. Millennium Management LLC’s holdings in Qudian were worth $295,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. NINE MASTS CAPITAL Ltd boosted its position in shares of Qudian by 176.7% in the 1st quarter. NINE MASTS CAPITAL Ltd now owns 2,044,901 shares of the company’s stock worth $23,925,000 after purchasing an additional 1,305,738 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Qudian in the 4th quarter worth $10,179,000. All Stars Investment Ltd boosted its position in shares of Qudian by 217.2% in the 1st quarter. All Stars Investment Ltd now owns 1,015,000 shares of the company’s stock worth $10,049,000 after purchasing an additional 695,000 shares in the last quarter. Bloom Tree Partners LLC boosted its position in shares of Qudian by 106.2% in the 1st quarter. Bloom Tree Partners LLC now owns 927,783 shares of the company’s stock worth $10,855,000 after purchasing an additional 477,783 shares in the last quarter. Finally, CQS Cayman LP lifted its position in Qudian by 85.2% during the 1st quarter. CQS Cayman LP now owns 325,980 shares of the company’s stock worth $3,814,000 after acquiring an additional 150,000 shares during the period. 5.58% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on QD shares. ValuEngine cut Qudian from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised Qudian from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Finally, Needham & Company LLC lowered their price target on Qudian from $20.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, May 22nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Qudian presently has a consensus rating of “Buy” and a consensus price target of $21.75.
NYSE QD opened at $7.35 on Monday. The stock has a market cap of $2.31 billion and a price-to-earnings ratio of 6.74. Qudian Inc – has a fifty-two week low of $6.49 and a fifty-two week high of $35.45. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03.
Qudian (NYSE:QD) last released its quarterly earnings data on Monday, May 21st. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). The business had revenue of $273.67 million during the quarter. analysts forecast that Qudian Inc – will post 1.04 EPS for the current year.
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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