Dorsey Wright & Associates Sells 28,906 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Dorsey Wright & Associates cut its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 21.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 102,906 shares of the company’s stock after selling 28,906 shares during the quarter. Dorsey Wright & Associates owned approximately 0.07% of Qifu Technology worth $3,950,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in QFIN. Jones Financial Companies Lllp purchased a new position in Qifu Technology during the fourth quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Qifu Technology during the 3rd quarter valued at $30,000. Advisors Preferred LLC bought a new position in Qifu Technology in the 4th quarter worth $41,000. Global Retirement Partners LLC increased its stake in Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock worth $45,000 after buying an additional 518 shares in the last quarter. Finally, BOCHK Asset Management Ltd bought a new stake in Qifu Technology during the fourth quarter valued at about $46,000. 74.81% of the stock is currently owned by institutional investors.

Qifu Technology Trading Down 5.6 %

NASDAQ:QFIN opened at $45.43 on Friday. The company has a market capitalization of $7.16 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.32 and a beta of 0.59. The business’s 50-day moving average is $42.25 and its 200 day moving average is $36.78. Qifu Technology, Inc. has a 12 month low of $17.76 and a 12 month high of $48.94.

Qifu Technology (NASDAQ:QFIN) last issued its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.14. The business had revenue of $613.89 million for the quarter, compared to analysts’ expectations of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. On average, research analysts forecast 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. Stockholders of record on Wednesday, April 23rd will be issued a $0.70 dividend. The ex-dividend date is Wednesday, April 23rd. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.60. This represents a dividend yield of 2.5%. Qifu Technology’s payout ratio is 23.79%.

Analyst Ratings Changes

Separately, Bank of America upped their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a “buy” rating in a research report on Wednesday.

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.