Voloridge Investment Management LLC Has $3.39 Million Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Voloridge Investment Management LLC lessened its holdings in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 81.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,311 shares of the company's stock after selling 379,303 shares during the period. Voloridge Investment Management LLC owned approximately 0.06% of Qifu Technology worth $3,389,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wrapmanager Inc. raised its position in Qifu Technology by 4.1% in the fourth quarter. Wrapmanager Inc. now owns 7,554 shares of the company's stock worth $290,000 after purchasing an additional 296 shares in the last quarter. Global Retirement Partners LLC raised its position in Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after purchasing an additional 518 shares in the last quarter. GeoWealth Management LLC acquired a new position in Qifu Technology in the fourth quarter worth about $26,000. Jones Financial Companies Lllp acquired a new position in Qifu Technology in the fourth quarter worth about $29,000. Finally, Lester Murray Antman dba SimplyRich raised its position in Qifu Technology by 5.7% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 14,288 shares of the company's stock worth $548,000 after purchasing an additional 768 shares in the last quarter. Institutional investors and hedge funds own 74.81% of the company's stock.

Qifu Technology Stock Performance

Shares of NASDAQ QFIN traded down $1.63 during mid-day trading on Friday, hitting $40.81. 2,774,669 shares of the stock were exchanged, compared to its average volume of 1,580,009. The company has a market cap of $6.43 billion, a P/E ratio of 8.26, a PEG ratio of 0.32 and a beta of 0.53. The stock's fifty day simple moving average is $41.26 and its two-hundred day simple moving average is $40.11. Qifu Technology, Inc. has a twelve month low of $18.13 and a twelve month high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings data on Monday, May 19th. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.02. The company had revenue of $646.19 million during the quarter, compared to analyst estimates of $4.61 billion. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. As a group, equities research analysts predict that Qifu Technology, Inc. will post 5.71 earnings per share 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. Investors of record on Wednesday, April 23rd will be issued a $0.70 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 2.5%. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's dividend payout ratio (DPR) is currently 21.17%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Wall Street Zen lowered shares of Qifu Technology from a "strong-buy" rating to a "buy" rating in a report on Sunday.

Qifu Technology Company 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.