Schonfeld Strategic Advisors LLC Makes New $3.89 Million Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

Schonfeld Strategic Advisors LLC bought a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 101,400 shares of the company’s stock, valued at approximately $3,892,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GeoWealth Management LLC purchased a new position in shares of Qifu Technology during the fourth quarter valued at about $26,000. Jones Financial Companies Lllp bought a new stake in Qifu Technology during the 4th quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Qifu Technology during the 3rd quarter worth approximately $30,000. Advisors Preferred LLC bought a new position in shares of Qifu Technology in the 4th quarter worth approximately $41,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock valued at $45,000 after purchasing an additional 518 shares during the period. Institutional investors own 74.81% of the company’s stock.

Qifu Technology Trading Up 6.6 %

Shares of QFIN opened at $43.02 on Friday. Qifu Technology, Inc. has a 12 month low of $18.13 and a 12 month high of $48.94. The business’s fifty day simple moving average is $40.96 and its two-hundred day simple moving average is $38.60. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN) last issued its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.14. The company had revenue of $613.89 million for the quarter, compared to the consensus estimate of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. As a group, research analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The firm also recently declared 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 represents a dividend yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.60. Qifu Technology’s dividend payout ratio (DPR) is currently 23.79%.

Wall Street Analyst Weigh In

Separately, Bank of America boosted their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the company a “buy” rating in a report on Wednesday, March 26th.

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.