Los Angeles Capital Management LLC Increases Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Los Angeles Capital Management LLC boosted its holdings in Qifu Technology, Inc. (NASDAQ:QFIN) by 54.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,255 shares of the company’s stock after buying an additional 52,814 shares during the period. Los Angeles Capital Management LLC’s holdings in Qifu Technology were worth $4,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of QFIN. US Bancorp DE grew its position in shares of Qifu Technology by 16.5% in the third quarter. US Bancorp DE now owns 5,410 shares of the company’s stock valued at $161,000 after purchasing an additional 765 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in Qifu Technology by 1.1% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 97,036 shares of the company’s stock valued at $1,915,000 after buying an additional 1,012 shares in the last quarter. Diversify Wealth Management LLC increased its position in shares of Qifu Technology by 4.7% during the third quarter. Diversify Wealth Management LLC now owns 28,389 shares of the company’s stock valued at $846,000 after buying an additional 1,284 shares during the period. USA Financial Formulas purchased a new stake in shares of Qifu Technology in the third quarter worth about $41,000. Finally, Blue Trust Inc. boosted its position in shares of Qifu Technology by 598.4% in the second 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 during the period. Institutional investors own 74.81% of the company’s stock.

Qifu Technology Trading Down 5.8 %

Shares of NASDAQ:QFIN opened at $30.69 on Wednesday. Qifu Technology, Inc. has a 12 month low of $13.71 and a 12 month high of $35.23. The stock has a market cap of $4.95 billion, a P/E ratio of 7.45, a P/E/G ratio of 0.43 and a beta of 0.61. The company has a 50 day moving average of $30.10 and a 200 day moving average of $23.99.

Qifu Technology (NASDAQ:QFIN) last released its quarterly earnings results on Tuesday, August 13th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.23. The firm had revenue of $572.44 million for the quarter, compared to analysts’ expectations of $582.69 million. Qifu Technology had a net margin of 28.06% and a return on equity of 21.82%. On average, equities analysts forecast that Qifu Technology, Inc. will post 5.04 earnings per share for the current fiscal year.

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.