Oasis Management Co Ltd. Sells 79,787 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Oasis Management Co Ltd. cut its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 22.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 274,180 shares of the company's stock after selling 79,787 shares during the period. Qifu Technology makes up about 2.4% of Oasis Management Co Ltd.'s portfolio, making the stock its 8th largest holding. Oasis Management Co Ltd. owned 0.17% of Qifu Technology worth $10,523,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Millennium Management LLC boosted its holdings in shares of Qifu Technology by 57.8% during the 4th quarter. Millennium Management LLC now owns 354,042 shares of the company's stock worth $13,588,000 after purchasing an additional 129,624 shares during the last quarter. Ethic Inc. acquired a new stake in Qifu Technology in the 4th quarter valued at approximately $292,000. Deutsche Bank AG lifted its stake in Qifu Technology by 51.8% during the 4th quarter. Deutsche Bank AG now owns 301,745 shares of the company's stock worth $11,581,000 after acquiring an additional 102,975 shares in the last quarter. Caxton Associates LP acquired a new position in shares of Qifu Technology in the fourth quarter valued at approximately $1,340,000. Finally, Ameriprise Financial Inc. increased its holdings in Qifu Technology by 36.4% during the 4th quarter. Ameriprise Financial Inc. now owns 24,365 shares of the company's stock worth $935,000 after purchasing an additional 6,505 shares during the period. Hedge funds and other institutional investors own 74.81% of the company's stock.

Qifu Technology Stock Up 6.8%

Shares of Qifu Technology stock opened at $45.45 on Tuesday. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 52-week low of $18.13 and a 52-week high of $48.94. The company's 50-day simple moving average is $41.25 and its 200-day simple moving average is $39.05.

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

Qifu Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, Bank of America boosted their price target on shares of 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.

Want to see what other hedge funds are holding QFIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qifu Technology, Inc. (NASDAQ:QFIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.