Boothbay Fund Management LLC Purchases New Shares in Qifu Technology, Inc. (NASDAQ:QFIN)

Boothbay Fund Management LLC acquired a new position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,371 shares of the company's stock, valued at approximately $475,000.

Several other hedge funds and other institutional investors have also modified their holdings of QFIN. Monolith Management Ltd purchased a new position in shares of Qifu Technology in the 4th quarter valued at about $4,785,000. Voya Investment Management LLC increased its position in Qifu Technology by 56.9% during the fourth quarter. Voya Investment Management LLC now owns 15,986 shares of the company's stock worth $614,000 after buying an additional 5,798 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Qifu Technology by 40.0% in the 4th quarter. Hsbc Holdings PLC now owns 885,074 shares of the company's stock valued at $33,969,000 after purchasing an additional 252,732 shares in the last quarter. Seldon Capital LP acquired a new position in Qifu Technology in the 4th quarter valued at $4,639,000. Finally, GeoWealth Management LLC acquired a new position in Qifu Technology in the fourth quarter valued at $26,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qifu Technology Stock Up 2.7 %

Shares of QFIN traded up $1.17 during midday trading on Tuesday, hitting $43.95. The company had a trading volume of 834,431 shares, compared to its average volume of 1,544,669. Qifu Technology, Inc. has a 52 week low of $18.13 and a 52 week high of $48.94. The company's 50 day moving average price is $40.98 and its 200 day moving average price is $38.72. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.14. The company had revenue of $613.89 million for the quarter, compared to analysts' expectations of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. Equities analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Qifu Technology's previous semi-annual dividend of $0.60. This represents a dividend yield of 2.5%. Qifu Technology's payout ratio is currently 23.79%.

Analyst Upgrades and Downgrades

Separately, Bank of America boosted their price target on Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a research report 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.