Verition Fund Management LLC bought a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 33,410 shares of the company's stock, valued at approximately $996,000.
Other large investors also recently made changes to their positions in the company. Natixis Advisors LLC purchased a new position in Qifu Technology during the third quarter valued at approximately $654,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Qifu Technology by 148.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,343 shares of the company's stock valued at $24,454,000 after purchasing an additional 489,865 shares during the last quarter. AQR Capital Management LLC purchased a new position in Qifu Technology in the second quarter valued at about $25,560,000. Hsbc Holdings PLC grew its stake in Qifu Technology by 9.8% in the second quarter. Hsbc Holdings PLC now owns 424,904 shares of the company's stock valued at $8,377,000 after purchasing an additional 37,948 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Qifu Technology in the 3rd quarter worth about $473,000. Institutional investors and hedge funds own 74.81% of the company's stock.
Qifu Technology Price Performance
Shares of QFIN stock traded up $2.11 on Monday, hitting $38.94. The company's stock had a trading volume of 1,907,044 shares, compared to its average volume of 1,324,488. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 0.31 and a beta of 0.64. Qifu Technology, Inc. has a fifty-two week low of $13.71 and a fifty-two week high of $40.31. The firm's fifty day moving average price is $33.60 and its 200-day moving average price is $26.06.
Wall Street Analyst Weigh In
Separately, Citigroup boosted their price target on Qifu Technology from $31.44 to $37.50 and gave the company a "buy" rating in a research note on Thursday, November 21st.
View Our Latest Report on QFIN
Qifu Technology Profile
(
Free Report)
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
Before you consider Qifu Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Qifu Technology wasn't on the list.
While Qifu Technology currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
