Qifu Technology (NASDAQ:QFIN) Shares Gap Down to $33.16

Shares of Qifu Technology, Inc. (NASDAQ:QFIN) gapped down before the market opened on Thursday . The stock had previously closed at $33.16, but opened at $31.70. Qifu Technology shares last traded at $31.87, with a volume of 232,331 shares trading hands.

Qifu Technology Price Performance

The company has a market cap of $5.15 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 0.51 and a beta of 0.62. The business’s fifty day moving average price is $24.28 and its 200 day moving average price is $21.20.

Qifu Technology (NASDAQ:QFIN) last announced its earnings results on Tuesday, August 13th. The company reported $1.22 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $582.69 million. As a group, equities research analysts anticipate that Qifu Technology, Inc. will post 4.94 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. Investors of record on Friday, September 27th will be issued a $0.60 dividend. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.57. The ex-dividend date of this dividend is Friday, September 27th. This represents a yield of 4.7%. Qifu Technology’s payout ratio is presently 30.57%.

Institutional Investors Weigh In On Qifu Technology

A number of hedge funds have recently added to or reduced their stakes in QFIN. Ashton Thomas Private Wealth LLC bought a new position in shares of Qifu Technology in the 2nd quarter worth $31,000. Blue Trust Inc. lifted its position 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 acquiring an additional 1,484 shares in the last quarter. Parallel Advisors LLC boosted its stake in Qifu Technology by 83.9% during the 4th quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock valued at $38,000 after purchasing an additional 1,107 shares during the last quarter. Janiczek Wealth Management LLC boosted its stake in Qifu Technology by 131.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company’s stock valued at $44,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Barometer Capital Management Inc. bought a new stake in Qifu Technology during the 4th quarter worth approximately $127,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

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.