Yeomans Consulting Group Inc. Invests in Qifu Technology

Yeomans Consulting Group Inc. has made an investment in Qifu Technology, Inc. (NASDAQ:QFIN) during the fourth quarter, as disclosed in its recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,291 shares of the company, which is valued at around $280,000.

A number of other institutional investors and hedge funds have also adjusted their positions in Qifu Technology. For instance, AQR Capital Management LLC entered into a new investment in Qifu Technology during the second quarter, with the investment valued at $25,560,000. Meanwhile, Marshall Wace LLP significantly increased its holdings by 557.5% in the same quarter, now owning 776,457 shares worth $15,319,000 after purchasing an additional 658,366 shares.

In addition, Robeco Institutional Asset Management B.V. grew its stake in Qifu Technology by 66.9% during the third quarter, owning 1,369,278 shares valued at approximately $40,818,000 after acquiring 548,678 shares. Connor Clark & Lunn Investment Management Ltd. also increased its position by 148.2%, now holding 820,343 shares valued at $24,454,000 after adding 489,865 shares. Lastly, Swedbank AB raised its stake by 156.0% in the third quarter, resulting in ownership of 754,300 shares worth $22,486,000 after acquiring an additional 459,700 shares during that period. Overall, hedge funds and institutional investors own about 74.81% of the stock.

Analyst Ratings Updates

In recent market updates, Citigroup has raised its target price on Qifu Technology from $31.44 to $37.50, assigning the company a "buy" rating in their report dated November 21.

Qifu Technology's Market Performance

The stock opened at $37.99 on Friday, with Qifu Technology holding a market capitalization of $5.99 billion. It has a price-to-earnings (P/E) ratio of 7.69 and a P/E to growth (P/E/G) ratio of 0.30, with a beta of 0.64. The company's 50-day simple moving average is $36.93, while the 200-day simple moving average sits at $30.06. Over the past year, Qifu Technology has experienced a low of $13.71 and a high of $40.31.

Overview of Qifu Technology

Qifu Technology, Inc. operates a credit-tech platform under the 360 Jietiao brand in China. Through its subsidiaries, the company provides services that connect borrowers with financial institutions for various needs, including customer acquisition, risk assessment, credit screening, and more. Additionally, they offer platform services for loan facilitation and risk management to their financial institution partners.

Additional Information

For more information on Qifu Technology and to see the positions held by other hedge funds, visit their filings on the appropriate financial platforms.

Investment, Stocks, Technology