Seven Eight Capital LP Purchases New Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Seven Eight Capital LP acquired a new position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 40,822 shares of the company’s stock, valued at approximately $805,000.

Several other institutional investors and hedge funds also recently modified their holdings of QFIN. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Qifu Technology by 88.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 102,000 shares of the company’s stock worth $1,880,000 after acquiring an additional 47,800 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Qifu Technology during the fourth quarter valued at approximately $794,000. Dimensional Fund Advisors LP lifted its position in shares of Qifu Technology by 20.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,901,674 shares of the company’s stock worth $30,082,000 after purchasing an additional 324,618 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Qifu Technology in the first quarter valued at $634,000. Finally, Banque Cantonale Vaudoise grew its holdings in Qifu Technology by 94.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 206,000 shares of the company’s stock valued at $3,797,000 after purchasing an additional 100,000 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Price Performance

Shares of QFIN stock opened at $25.76 on Friday. The company’s fifty day moving average price is $22.74 and its two-hundred day moving average price is $20.51. The firm has a market capitalization of $4.16 billion, a P/E ratio of 6.67, a P/E/G ratio of 0.43 and a beta of 0.61. Qifu Technology, Inc. has a 12 month low of $13.68 and a 12 month high of $26.50.

Qifu Technology (NASDAQ:QFIN) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.23. Qifu Technology had a return on equity of 21.82% and a net margin of 28.06%. The firm had revenue of $572.44 million during the quarter, compared to the consensus estimate of $582.69 million. On average, sell-side analysts anticipate that Qifu Technology, Inc. will post 4.94 EPS for the current year.

Qifu Technology Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, September 27th will be paid a $0.60 dividend. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.57. Qifu Technology’s payout ratio is 29.53%.

About Qifu Technology

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.