AdvisorShares Investments LLC Sells 4,130 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

AdvisorShares Investments LLC decreased its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 15.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 22,000 shares of the company’s stock after selling 4,130 shares during the period. AdvisorShares Investments LLC’s holdings in Qifu Technology were worth $844,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QFIN. GeoWealth Management LLC purchased a new stake in Qifu Technology in the 4th quarter worth $26,000. Jones Financial Companies Lllp purchased a new stake in shares of Qifu Technology in the fourth quarter worth about $29,000. Wilmington Savings Fund Society FSB bought a new position in Qifu Technology during the third quarter valued at approximately $30,000. Advisors Preferred LLC purchased a new position in Qifu Technology during the 4th quarter valued at approximately $41,000. Finally, 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 acquiring an additional 518 shares during the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Bank of America boosted their price target on shares of 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 Stock Performance

Shares of NASDAQ:QFIN opened at $40.49 on Tuesday. Qifu Technology, Inc. has a one year low of $18.13 and a one year high of $48.94. The firm’s 50 day simple moving average is $40.96 and its 200-day simple moving average is $38.40. The firm has a market cap of $6.38 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN) last posted its earnings results on Sunday, March 16th. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.14. The company had revenue of $613.89 million during the quarter, compared to analysts’ expectations of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. Equities research analysts predict that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be paid a dividend of $0.70 per share. 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 of this dividend is Wednesday, April 23rd. Qifu Technology’s payout ratio is presently 23.79%.

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.