Aspex Management HK Ltd Has $244.55 Million Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Aspex Management HK Ltd raised its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,371,808 shares of the company's stock after purchasing an additional 648,088 shares during the quarter. Qifu Technology accounts for approximately 6.6% of Aspex Management HK Ltd's holdings, making the stock its 4th largest holding. Aspex Management HK Ltd owned 4.04% of Qifu Technology worth $244,550,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Qifu Technology during the third quarter worth $30,000. Tidal Investments LLC acquired a new position in shares of Qifu Technology during the third quarter valued at approximately $613,000. Franklin Resources Inc. increased its stake in Qifu Technology by 12.9% during the third quarter. Franklin Resources Inc. now owns 61,616 shares of the company's stock worth $2,031,000 after purchasing an additional 7,033 shares during the period. Diversified Trust Co boosted its position in shares of Qifu Technology by 64.0% during the 4th quarter. Diversified Trust Co now owns 42,233 shares of the company's stock worth $1,621,000 after acquiring an additional 16,478 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new stake in shares of Qifu Technology during the fourth quarter worth about $230,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Qifu Technology Price Performance

NASDAQ QFIN traded up $0.45 during trading hours on Thursday, reaching $43.09. 338,740 shares of the stock traded hands, compared to its average volume of 1,542,957. Qifu Technology, Inc. has a 1 year low of $18.13 and a 1 year high of $48.94. The stock has a 50 day simple moving average of $41.08 and a two-hundred day simple moving average of $38.78. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.14. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The company had revenue of $613.89 million during the quarter, compared to analysts' expectations of $581.67 million. On average, sell-side analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be given a $0.70 dividend. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 2.5%. Qifu Technology's dividend payout ratio is 23.79%.

Analyst Ratings Changes

Separately, Bank of America upped their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a research note on Wednesday, March 26th.

Qifu Technology Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.