Tidal Investments LLC Grows Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Tidal Investments LLC grew its position in Qifu Technology, Inc. (NASDAQ:QFIN) by 14.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 23,450 shares of the company’s stock after buying an additional 2,898 shares during the quarter. Tidal Investments LLC’s holdings in Qifu Technology were worth $900,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC acquired a new stake in shares of Qifu Technology in the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp purchased a new stake in shares of Qifu Technology in the 4th quarter valued at $29,000. Advisors Preferred LLC purchased a new stake in shares of Qifu Technology in the 4th quarter valued at $41,000. Global Retirement Partners LLC increased its holdings in Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock worth $45,000 after purchasing an additional 518 shares during the period. Finally, BOCHK Asset Management Ltd purchased a new stake in Qifu Technology during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Stock Performance

Shares of NASDAQ:QFIN opened at $42.52 on Tuesday. The business’s fifty day moving average price is $41.48 and its two-hundred day moving average price is $39.79. The stock has a market cap of $6.70 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a one year low of $18.13 and a one year high of $48.94.

Qifu Technology (NASDAQ:QFIN) last posted its quarterly earnings data on Monday, May 19th. The company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.02. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. The business had revenue of $646.19 million for the quarter, compared to analysts’ expectations of $4.61 billion. 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 firm also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.70 per share. This represents a dividend yield of 2.5%. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.60. The ex-dividend date of this dividend is Wednesday, April 23rd. Qifu Technology’s payout ratio is presently 21.17%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on QFIN. Wall Street Zen raised Qifu Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Bank of America increased their price objective on Qifu Technology from $50.66 to $52.70 and gave the stock 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.