Qifu Technology, Inc. (NASDAQ:QFIN) is Yunqi Capital Ltd’s Largest Position

Yunqi Capital Ltd reduced its position in Qifu Technology, Inc. (NASDAQ:QFIN) by 33.3% in the 4th quarter, Holdings Channel reports. The fund owned 2,678,330 shares of the company’s stock after selling 1,335,000 shares during the period. Qifu Technology makes up about 29.7% of Yunqi Capital Ltd’s investment portfolio, making the stock its biggest position. Yunqi Capital Ltd’s holdings in Qifu Technology were worth $42,371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board grew its stake in shares of Qifu Technology by 138.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 470,910 shares of the company’s stock valued at $7,233,000 after buying an additional 273,500 shares during the period. Acadian Asset Management LLC grew its stake in shares of Qifu Technology by 1,209.4% during the 3rd quarter. Acadian Asset Management LLC now owns 243,365 shares of the company’s stock valued at $3,726,000 after buying an additional 224,779 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Qifu Technology during the 3rd quarter valued at $3,249,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Qifu Technology by 96.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 329,454 shares of the company’s stock valued at $5,060,000 after buying an additional 161,361 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Qifu Technology by 131.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 266,536 shares of the company’s stock valued at $4,094,000 after buying an additional 151,510 shares during the period. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qifu Technology Stock Performance

Qifu Technology stock traded up $0.22 during trading on Tuesday, reaching $18.51. 1,016,337 shares of the company’s stock were exchanged, compared to its average volume of 1,090,862. The company’s 50-day moving average is $17.46 and its two-hundred day moving average is $15.94. Qifu Technology, Inc. has a 52-week low of $13.12 and a 52-week high of $20.61. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 5.06, a PEG ratio of 0.42 and a beta of 0.62.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings results on Tuesday, March 12th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96. Qifu Technology had a net margin of 26.29% and a return on equity of 20.44%. The firm had revenue of $633.18 million during the quarter, compared to analysts’ expectations of $597.09 million. Analysts anticipate that Qifu Technology, Inc. will post 4.31 EPS for the current year.

Qifu Technology Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 24th. Investors of record on Monday, April 15th will be given a dividend of $0.57 per share. This represents a yield of 5.7%. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.50. The ex-dividend date is Friday, April 12th. Qifu Technology’s dividend payout ratio is 31.15%.

Analyst Upgrades and Downgrades

Separately, Citigroup boosted their price objective on shares of Qifu Technology from $23.54 to $23.80 and gave the company a “buy” rating in a research note on Thursday, March 14th.

About Qifu Technology

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.