Townsquare Capital LLC Purchases 1,994 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Townsquare Capital LLC raised its position in Qifu Technology, Inc. (NASDAQ:QFIN) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,098 shares of the company’s stock after acquiring an additional 1,994 shares during the quarter. Townsquare Capital LLC’s holdings in Qifu Technology were worth $963,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of QFIN. Geode Capital Management LLC boosted its holdings in shares of Qifu Technology by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock worth $38,866,000 after buying an additional 41,139 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Qifu Technology by 66.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 32,873 shares of the company’s stock worth $1,255,000 after acquiring an additional 13,170 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Qifu Technology during the 3rd quarter valued at $1,061,000. Raymond James Financial Inc. purchased a new stake in shares of Qifu Technology in the 4th quarter worth $298,000. Finally, KBC Group NV lifted its position in Qifu Technology by 279.6% during the fourth quarter. KBC Group NV now owns 35,381 shares of the company’s stock valued at $1,358,000 after purchasing an additional 26,061 shares in the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qifu Technology Price Performance

Shares of NASDAQ QFIN opened at $35.62 on Friday. Qifu Technology, Inc. has a 1 year low of $17.95 and a 1 year high of $48.94. The firm has a fifty day moving average price of $41.55 and a 200-day moving average price of $38.03. The stock has a market cap of $5.61 billion, a PE ratio of 7.21, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN) last posted its quarterly 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. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. The business had revenue of $613.89 million for the quarter, compared to analysts’ expectations of $581.67 million. On average, research analysts expect 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. Shareholders of record on Wednesday, April 23rd will be paid a $0.70 dividend. This represents a yield of 2.5%. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.60. The ex-dividend date is Wednesday, April 23rd. Qifu Technology’s dividend payout ratio is presently 23.79%.

Analysts Set New Price Targets

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

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.