Monolith Management Ltd Invests $4.79 Million in Qifu Technology, Inc. (NASDAQ:QFIN)

Monolith Management Ltd purchased a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 124,687 shares of the company's stock, valued at approximately $4,785,000. Qifu Technology accounts for approximately 2.5% of Monolith Management Ltd's investment portfolio, making the stock its 14th largest position. Monolith Management Ltd owned 0.08% of Qifu Technology as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. GeoWealth Management LLC bought a new position in shares of Qifu Technology during the 4th quarter valued at approximately $26,000. Jones Financial Companies Lllp bought a new position in shares of Qifu Technology during the 4th quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of Qifu Technology during the 3rd quarter valued at approximately $30,000. Advisors Preferred LLC bought a new position in shares of Qifu Technology during the 4th quarter valued at approximately $41,000. Finally, Global Retirement Partners LLC grew its stake in shares of Qifu Technology by 80.2% during 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 own 74.81% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Bank of America boosted their price objective on Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a research note on Wednesday, March 26th.

Qifu Technology Stock Down 1.1 %

NASDAQ QFIN traded down $0.44 during trading hours on Monday, reaching $40.49. The company's stock had a trading volume of 1,601,747 shares, compared to its average volume of 1,550,652. The firm's 50-day moving average price is $41.03 and its 200-day moving average price is $38.35. Qifu Technology, Inc. has a 1 year low of $18.13 and a 1 year high of $48.94. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 0.32 and a beta of 0.53.

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

Qifu Technology Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $0.70 per share. This represents a dividend yield of 2.5%. This is a boost 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 dividend payout ratio is 23.79%.

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.