GF Fund Management CO. LTD. acquired a new stake in Qifu Technology, Inc. (NASDAQ:QFIN) in the fourth quarter, as disclosed in their recent 13F filing with the Securities and Exchange Commission (SEC). The investment firm purchased 227,614 shares of Qifu Technology’s stock, valued at approximately $8,736,000. At the end of the reporting period, GF Fund Management CO. LTD. held 0.14% of Qifu Technology’s outstanding shares.
Other institutional investors also adjusted their holdings of QFIN during the same period. GeoWealth Management LLC initiated a new position worth $26,000, while Jones Financial Companies Lllp and Advisors Preferred LLC established stakes valued at about $29,000 and $41,000, respectively. Global Retirement Partners LLC increased its holding by 80.2%, now owning 1,164 shares worth $45,000. BOCHK Asset Management Ltd also acquired a new stake worth approximately $46,000.
Institutional investors and hedge funds collectively own 74.81% of Qifu Technology’s stock. Several research firms have recently updated their ratings on QFIN. Wall Street Zen upgraded their rating from ‘buy’ to ‘strong-buy’, while Bank of America raised their target price from $50.66 to $52.70 and maintained a ‘buy’ rating.
Qifu Technology’s stock performance has been notable, with shares opening at $42.52 on Friday. The company has a 50-day moving average of $41.58 and a 200-day moving average of $39.62. Qifu Technology reported earnings per share of $1.74 for the quarter, exceeding analysts’ expectations of $1.72. The company also declared a semi-annual dividend of $0.70, representing a yield of 2.5% and an increase from the previous dividend of $0.60.
