ExodusPoint Capital Management LP Invests $2.03 Million in Qifu Technology, Inc. (NASDAQ:QFIN)

ExodusPoint Capital Management LP purchased a new position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,832 shares of the company's stock, valued at approximately $2,028,000.

A number of other large investors have also recently added to or reduced their stakes in QFIN. Jones Financial Companies Lllp bought a new stake in shares of Qifu Technology in the 4th quarter valued at about $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Qifu Technology in the third quarter valued at approximately $30,000. Advisors Preferred LLC bought a new position in shares of Qifu Technology during the 4th quarter worth approximately $41,000. Point72 DIFC Ltd acquired a new position in shares of Qifu Technology during the 3rd quarter worth approximately $43,000. Finally, Global Retirement Partners LLC raised 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 valued at $45,000 after acquiring an additional 518 shares during the period. Institutional investors and hedge funds own 74.81% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Bank of America upped their price objective 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.

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Qifu Technology Stock Performance

NASDAQ:QFIN traded up $3.22 during mid-day trading on Monday, hitting $39.59. 843,480 shares of the stock were exchanged, compared to its average volume of 1,502,188. The firm's 50-day simple moving average is $42.05 and its 200 day simple moving average is $37.90. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 8.01, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, topping 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 company had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. On average, analysts predict that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal 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 given a $0.70 dividend. This represents a dividend yield of 2.5%. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. 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.