EAM Global Investors LLC Cuts Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

EAM Global Investors LLC trimmed its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 285,552 shares of the company's stock after selling 35,131 shares during the period. Qifu Technology makes up 2.0% of EAM Global Investors LLC's investment portfolio, making the stock its largest holding. EAM Global Investors LLC owned 0.18% of Qifu Technology worth $10,959,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Qifu Technology by 5.8% in the 3rd quarter. State Street Corp now owns 2,324,831 shares of the company's stock valued at $70,637,000 after acquiring an additional 128,381 shares during the last quarter. Wellington Management Group LLP boosted its position in Qifu Technology by 238.8% in the 3rd quarter. Wellington Management Group LLP now owns 229,908 shares of the company's stock worth $6,854,000 after purchasing an additional 162,043 shares in the last quarter. XTX Topco Ltd raised its position in shares of Qifu Technology by 9.1% in the third quarter. XTX Topco Ltd now owns 11,913 shares of the company's stock worth $355,000 after acquiring an additional 997 shares during the period. Geode Capital Management LLC lifted its position in shares of Qifu Technology by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company's stock valued at $38,866,000 after buying an additional 41,139 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Qifu Technology during the third quarter valued at approximately $1,061,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Bank of America lifted their price objective on 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 Stock Performance

Shares of Qifu Technology stock traded up $0.34 during trading on Monday, hitting $35.67. 745,644 shares of the stock were exchanged, compared to its average volume of 1,819,751. Qifu Technology, Inc. has a 12 month low of $17.95 and a 12 month high of $48.94. The stock's fifty day moving average is $41.55 and its 200 day moving average is $38.11. The stock has a market cap of $5.62 billion, a PE ratio of 7.22, a P/E/G ratio of 0.32 and a beta of 0.53.

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

Qifu Technology Increases Dividend

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

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.