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E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN – Get Rating) by 52.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,787 shares of the company’s stock after purchasing an additional 38,593 shares during the period. Qifu Technology accounts for 1.2% of E Fund Management Hong Kong Co. Ltd.’s portfolio, making the stock its 18th largest position. E Fund Management Hong Kong Co. Ltd. owned approximately 0.07% of Qifu Technology worth $2,169,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in QFIN. abrdn plc bought a new position in Qifu Technology during the 4th quarter valued at approximately $369,000. Causeway Capital Management LLC boosted its stake in Qifu Technology by 17.3% in the 4th quarter. Causeway Capital Management LLC now owns 2,298,521 shares of the company’s stock worth $46,798,000 after purchasing an additional 339,470 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Qifu Technology by 87.3% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,433 shares of the company’s stock worth $1,109,000 after purchasing an additional 25,833 shares in the last quarter. Segantii Capital Management Ltd purchased a new stake in Qifu Technology during the 4th quarter valued at about $1,186,000. Finally, Baader Bank Aktiengesellschaft increased its stake in Qifu Technology by 5.9% during the 3rd quarter. Baader Bank Aktiengesellschaft now owns 123,866 shares of the company’s stock valued at $1,588,000 after purchasing an additional 6,866 shares in the last quarter. 74.08% of the stock is owned by institutional investors.
Qifu Technology Stock Performance
Shares of NASDAQ:QFIN traded down $0.02 during midday trading on Friday, reaching $16.14. 242,032 shares of the company’s stock traded hands, compared to its average volume of 1,035,526. Qifu Technology, Inc. has a one year low of $9.47 and a one year high of $25.49. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 4.78 and a beta of 0.40. The stock has a 50 day moving average of $16.35 and a 200 day moving average of $18.92.
Qifu Technology (NASDAQ:QFIN – Get Rating) last issued its earnings results on Thursday, May 18th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.28). The business had revenue of $524.08 million during the quarter. Qifu Technology had a return on equity of 20.52% and a net margin of 23.86%. Sell-side analysts predict that Qifu Technology, Inc. will post 4.03 EPS for the current fiscal year.
Analyst Ratings Changes
Separately, TheStreet upgraded shares of Qifu Technology from a “c+” rating to a “b” rating in a report on Tuesday, June 6th.
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.
Further Reading
Want to see what other hedge funds are holding QFIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qifu Technology, Inc. (NASDAQ:QFIN – Get Rating).
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