State Street Corp Sells 54,482 Shares of Qudian Inc. (NYSE:QD)

State Street Corp decreased its holdings in shares of Qudian Inc. (NYSE:QD) by 25.8% in the 3rd quarter, Holdings Channel reports. The fund owned 156,320 shares of the company’s stock after selling 54,482 shares during the period. State Street Corp’s holdings in Qudian were worth $333,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in QD. Caprock Group LLC bought a new stake in shares of Qudian during the second quarter worth about $65,000. Ballentine Partners LLC grew its holdings in Qudian by 91.4% during the 2nd quarter. Ballentine Partners LLC now owns 21,934 shares of the company’s stock worth $43,000 after acquiring an additional 10,476 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Qudian by 31.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,435,477 shares of the company’s stock valued at $2,838,000 after acquiring an additional 343,294 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Qudian during the second quarter valued at $1,918,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Qudian during the third quarter worth $32,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Qudian Stock Down 1.4 %

NYSE QD opened at $2.76 on Friday. The company has a market capitalization of $553.66 million, a price-to-earnings ratio of 69.00 and a beta of 0.73. Qudian Inc. has a twelve month low of $1.52 and a twelve month high of $3.20. The stock has a fifty day simple moving average of $2.68 and a 200 day simple moving average of $2.19.

About Qudian

Qudian Inc operates as a consumer-oriented technology company in the People's Republic of China. The company engages in the operation of online platforms to provide small consumer credit products. It also provides technology development and services; research and development services; and delivery services.