360 DigiTech (NASDAQ:QFIN) Shares Gap Up to $16.78

Shares of 360 DigiTech, Inc. (NASDAQ:QFIN – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $16.78, but opened at $17.30. 360 DigiTech shares last traded at $16.74, with a volume of 63,172 shares changing hands.

360 DigiTech Stock Performance

The firm’s 50-day moving average price is $21.37 and its two-hundred day moving average price is $17.26. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 4.54 and a beta of 0.40.

360 DigiTech Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 19th. Stockholders of record on Tuesday, April 11th will be given a dividend of $0.16 per share. The ex-dividend date is Monday, April 10th. This represents a $0.64 annualized dividend and a dividend yield of 3.79%. 360 DigiTech’s payout ratio is 16.13%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. TT International Asset Management LTD lifted its position in 360 DigiTech by 7.5% in the third quarter. TT International Asset Management LTD now owns 10,652,052 shares of the company’s stock valued at $136,559,000 after buying an additional 740,280 shares during the last quarter. OLP CAPITAL MANAGEMENT Ltd lifted its position in 360 DigiTech by 125.4% in the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 9,708,223 shares of the company’s stock valued at $197,659,000 after buying an additional 5,401,731 shares during the last quarter. Morgan Stanley lifted its position in 360 DigiTech by 2.1% in the fourth quarter. Morgan Stanley now owns 7,715,149 shares of the company’s stock valued at $157,080,000 after buying an additional 161,496 shares during the last quarter. Vanguard Group Inc. lifted its position in 360 DigiTech by 2.6% in the first quarter. Vanguard Group Inc. now owns 4,975,876 shares of the company’s stock valued at $76,579,000 after buying an additional 126,007 shares during the last quarter. Finally, BlackRock Inc. lifted its position in 360 DigiTech by 3.8% in the third quarter. BlackRock Inc. now owns 4,159,482 shares of the company’s stock valued at $53,323,000 after buying an additional 151,973 shares during the last quarter. Institutional investors and hedge funds own 55.07% of the company’s stock.

About 360 DigiTech

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360 DigiTech, Inc is a holding company, which engages in the provision of digital consumer finance platforms. It provides tailored online consumer finance products to prime, underserved borrowers funded primarily by its funding partners. The company proprietary technology platform supports full transaction lifecycle from credit application through settlement.