Qifu Technology (NASDAQ:QFIN) Hits New 1-Year High - Time to Buy?

Shares of Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $34.95 and last traded at $34.85, with a volume of 681672 shares. The stock had previously closed at $33.46.

Qifu Technology Trading Up 4.1 %

The business has a 50 day moving average of $28.43 and a two-hundred day moving average of $22.82. The firm has a market cap of $5.62 billion, a P/E ratio of 9.02, a PEG ratio of 0.47 and a beta of 0.62.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.23. The company had revenue of $572.44 million for the quarter, compared to analyst estimates of $582.69 million. Qifu Technology had a net margin of 28.06% and a return on equity of 21.82%. On average, sell-side analysts predict that Qifu Technology, Inc. will post 5.08 EPS for the current year.

Qifu Technology Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, September 27th. This represents a dividend yield of 4.7%. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.57. Qifu Technology's dividend payout ratio (DPR) is 30.57%.

Hedge Funds Weigh In On Qifu Technology

A number of hedge funds have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC bought a new stake in shares of Qifu Technology during the 2nd quarter valued at $31,000. Blue Trust Inc. increased its holdings in Qifu Technology by 598.4% in the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company's stock valued at $32,000 after buying an additional 1,484 shares during the period. USA Financial Formulas bought a new position in Qifu Technology in the 3rd quarter valued at about $41,000. Janiczek Wealth Management LLC raised its position in shares of Qifu Technology by 131.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company's stock valued at $44,000 after buying an additional 1,355 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Qifu Technology by 67.3% during the 2nd quarter. Signaturefd LLC now owns 7,283 shares of the company's stock worth $144,000 after acquiring an additional 2,931 shares during the period. 74.81% of the stock is owned by institutional investors.

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.