Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 934,279 shares of the company's stock after purchasing an additional 14,312 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.59% of Qifu Technology worth $41,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Townsquare Capital LLC lifted its holdings in shares of Qifu Technology by 4.5% during the first quarter. Townsquare Capital LLC now owns 26,218 shares of the company's stock valued at $1,177,000 after purchasing an additional 1,120 shares in the last quarter. Keystone Investors PTE Ltd. bought a new position in shares of Qifu Technology during the first quarter valued at $52,814,000. National Bank of Canada FI lifted its holdings in shares of Qifu Technology by 44.7% during the first quarter. National Bank of Canada FI now owns 883,412 shares of the company's stock valued at $39,669,000 after purchasing an additional 273,053 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Qifu Technology by 3.2% during the first quarter. Citigroup Inc. now owns 277,647 shares of the company's stock valued at $12,469,000 after purchasing an additional 8,515 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Qifu Technology during the first quarter valued at $151,000. 74.81% of the stock is owned by institutional investors.
Qifu Technology Price Performance
NASDAQ QFIN traded up $1.74 during trading on Tuesday, hitting $34.11. 1,957,661 shares of the stock traded hands, compared to its average volume of 1,705,265. The company has a market capitalization of $5.38 billion, a P/E ratio of 5.23, a price-to-earnings-growth ratio of 0.41 and a beta of 0.39. The firm has a 50-day simple moving average of $40.51 and a 200-day simple moving average of $41.31. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.21. Qifu Technology, Inc. has a 12-month low of $20.66 and a 12-month high of $48.94.
Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its earnings results on Monday, May 19th. The company reported $1.74 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.02. The firm had revenue of $646.19 million during the quarter, compared to analysts' expectations of $4.61 billion. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. As a group, analysts predict that Qifu Technology, Inc. will post 5.71 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on QFIN. JPMorgan Chase & Co. started coverage on Qifu Technology in a report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price target on the stock. Wall Street Zen cut Qifu Technology from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th.
Check Out Our Latest Stock Report on Qifu Technology
Qifu Technology Profile
(
Free Report)
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.
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