Rhumbline Advisers Sells 2,190 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Rhumbline Advisers lowered its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 8.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 22,798 shares of the company’s stock after selling 2,190 shares during the period. Rhumbline Advisers’ holdings in Qifu Technology were worth $1,024,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Mackenzie Financial Corp lifted its stake in Qifu Technology by 48.6% during the fourth quarter. Mackenzie Financial Corp now owns 483,387 shares of the company’s stock worth $18,552,000 after purchasing an additional 158,013 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Qifu Technology during the 4th quarter worth about $8,736,000. Public Employees Retirement System of Ohio raised its holdings in Qifu Technology by 43.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 407,993 shares of the company’s stock worth $15,659,000 after purchasing an additional 123,292 shares during the period. Vise Technologies Inc. acquired a new position in Qifu Technology in the fourth quarter valued at about $239,000. Finally, Vident Advisory LLC raised its holdings in Qifu Technology by 9.2% during the 4th quarter. Vident Advisory LLC now owns 19,191 shares of the company’s stock worth $737,000 after buying an additional 1,621 shares during the period. Institutional investors own 74.81% of the company’s stock.

Qifu Technology Stock Performance

QFIN opened at $43.06 on Friday. The business’s fifty day moving average is $41.45 and its 200-day moving average is $40.69. The firm has a market cap of $6.79 billion, a P/E ratio of 6.60, a price-to-earnings-growth ratio of 0.53 and a beta of 0.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.08 and a current ratio of 3.08. Qifu Technology, Inc. has a 52-week low of $18.13 and a 52-week high of $48.94.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings results on Monday, May 19th. The company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.02. The company had revenue of $646.19 million for the quarter, compared to analyst estimates of $4.61 billion. Qifu Technology had a net margin of 38.99% and a return on equity of 29.73%. Sell-side analysts expect that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

QFIN has been the topic of a number of research reports. Bank of America boosted their price objective on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a “buy” rating in a research report on Wednesday, March 26th. Wall Street Zen cut Qifu Technology from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 1st.

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.