Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 934,279 shares of the company's stock after buying an additional 14,312 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.59% of Qifu Technology worth $41,958,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. Townsquare Capital LLC increased its position in Qifu Technology by 4.5% during the first quarter. Townsquare Capital LLC now owns 26,218 shares of the company's stock worth $1,177,000 after buying an additional 1,120 shares in the last quarter. Keystone Investors PTE Ltd. purchased a new stake in shares of Qifu Technology in the first quarter valued at $52,814,000. National Bank of Canada FI grew its position in shares of Qifu Technology by 44.7% in 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 during the period. Citigroup Inc. grew its position in shares of Qifu Technology by 3.2% in 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 during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Qifu Technology in the first quarter valued at $151,000. Hedge funds and other institutional investors own 74.81% of the company's stock.
Qifu Technology Stock Up 1.7%
Shares of NASDAQ QFIN traded up $0.59 during midday trading on Wednesday, reaching $34.70. 994,309 shares of the company's stock were exchanged, compared to its average volume of 1,700,535. Qifu Technology, Inc. has a 52-week low of $22.08 and a 52-week high of $48.94. The stock has a market capitalization of $5.47 billion, a PE ratio of 5.31, a price-to-earnings-growth ratio of 0.40 and a beta of 0.39. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.08 and a current ratio of 3.08. The business's fifty day moving average price is $40.37 and its two-hundred day moving average price is $41.26.
Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its earnings results on Monday, May 19th. The company reported $1.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.02. The business had revenue of $646.19 million for the quarter, compared to analyst estimates of $4.61 billion. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. Analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on QFIN. JPMorgan Chase & Co. assumed coverage on Qifu Technology in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price objective for the company. Wall Street Zen cut Qifu Technology from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th.
Read Our Latest Research Report on QFIN
About Qifu Technology
(
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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