Monolith Management Ltd Buys Shares of 124,687 Qifu Technology, Inc. (NASDAQ:QFIN)

Monolith Management Ltd purchased a new position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 124,687 shares of the company’s stock, valued at approximately $4,785,000. Qifu Technology accounts for about 2.5% of Monolith Management Ltd’s investment portfolio, making the stock its 14th biggest position. Monolith Management Ltd owned about 0.08% of Qifu Technology as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Voya Investment Management LLC increased its position in Qifu Technology by 56.9% in the fourth quarter. Voya Investment Management LLC now owns 15,986 shares of the company’s stock worth $614,000 after buying an additional 5,798 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Qifu Technology by 40.0% in the 4th quarter. Hsbc Holdings PLC now owns 885,074 shares of the company’s stock worth $33,969,000 after acquiring an additional 252,732 shares during the period. Seldon Capital LP bought a new stake in Qifu Technology in the 4th quarter valued at about $4,639,000. GeoWealth Management LLC acquired a new position in Qifu Technology during the 4th quarter valued at about $26,000. Finally, Marshall Wace LLP grew its position in Qifu Technology by 67.5% in the 4th quarter. Marshall Wace LLP now owns 1,351,277 shares of the company’s stock worth $51,862,000 after purchasing an additional 544,666 shares during the last quarter. Institutional investors own 74.81% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, 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 report on Wednesday, March 26th.

Qifu Technology Trading Up 4.8 %

QFIN stock opened at $41.12 on Friday. The firm’s 50-day moving average is $41.12 and its two-hundred day moving average is $38.19. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 8.32, 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.

Qifu Technology (NASDAQ:QFIN) last announced its earnings results 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 return on equity of 24.39% and a net margin of 31.82%. The firm had revenue of $613.89 million for the quarter, compared to analysts’ expectations of $581.67 million. On average, equities research analysts predict that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The firm also recently announced 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. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.60. This represents a dividend yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. Qifu Technology’s payout ratio is presently 23.79%.

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.