Laurion Capital Management LP acquired a new position in shares of Qudian Inc – (NYSE:QD) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 807,988 shares of the company’s stock, valued at approximately $4,210,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in QD. Mirae Asset Global Investments Co. Ltd. acquired a new position in Qudian during the 3rd quarter worth about $182,000. GSA Capital Partners LLP acquired a new position in Qudian during the 3rd quarter worth about $210,000. Granite Point Capital Management L.P. lifted its holdings in Qudian by 75.0% during the 3rd quarter. Granite Point Capital Management L.P. now owns 70,000 shares of the company’s stock worth $365,000 after buying an additional 30,000 shares during the period. Credit Suisse AG lifted its holdings in Qudian by 943.9% during the 3rd quarter. Credit Suisse AG now owns 594,767 shares of the company’s stock worth $3,099,000 after buying an additional 537,794 shares during the period. Finally, BlackRock Inc. lifted its holdings in Qudian by 26.3% during the 3rd quarter. BlackRock Inc. now owns 2,507,400 shares of the company’s stock worth $13,064,000 after buying an additional 521,560 shares during the period. Hedge funds and other institutional investors own 4.22% of the company’s stock.
QD stock opened at $4.96 on Friday. Qudian Inc – has a 1-year low of $4.00 and a 1-year high of $17.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.72 and a quick ratio of 2.72. The stock has a market capitalization of $1.65 billion, a PE ratio of 4.77 and a beta of 0.52.
Several brokerages have commented on QD. ValuEngine downgraded Qudian from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Needham & Company LLC downgraded Qudian from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Macquarie downgraded Qudian from an “outperform” rating to a “neutral” rating and set a $36.00 target price on the stock. in a report on Monday, August 27th. Finally, Sanford C. Bernstein downgraded Qudian from an “outperform” rating to a “market perform” rating and set a $7.00 target price on the stock. in a report on Thursday, August 23rd. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $17.75.
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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