Qifu Technology (NASDAQ:QFIN) Trading Down 3.7% – Should You Sell?

Shares of Qifu Technology, Inc. (NASDAQ:QFIN) dropped 3.7% on Thursday . The company traded as low as $45.10 and last traded at $45.89. Approximately 391,053 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,312,393 shares. The stock had previously closed at $47.66.

Qifu Technology Price Performance

The stock has a fifty day moving average price of $41.37 and a two-hundred day moving average price of $35.97. The company has a market cap of $7.08 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 0.32 and a beta of 0.59.

Qifu Technology (NASDAQ:QFIN) last posted its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.14. The company had revenue of $613.89 million for the quarter, compared to analyst estimates of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. Equities analysts predict that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be given a $0.70 dividend. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.60. This represents a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. Qifu Technology’s dividend payout ratio (DPR) is currently 20.34%.

Institutional Trading of Qifu Technology

A number of large investors have recently bought and sold shares of the company. Wrapmanager Inc. increased its position in Qifu Technology by 4.1% in the fourth quarter. Wrapmanager Inc. now owns 7,554 shares of the company’s stock worth $290,000 after buying an additional 296 shares during the last quarter. Global Retirement Partners LLC increased its position in Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock worth $45,000 after buying an additional 518 shares during the last quarter. DGS Capital Management LLC grew its position in shares of Qifu Technology by 5.9% in the fourth quarter. DGS Capital Management LLC now owns 11,413 shares of the company’s stock valued at $438,000 after purchasing an additional 631 shares in the last quarter. GeoWealth Management LLC purchased a new position in shares of Qifu Technology in the fourth quarter valued at $26,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of Qifu Technology in the fourth quarter valued at $29,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

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.