PPDAI Group's (FINV) Neutral Rating Reaffirmed at Citigroup

Key Points

• Citigroup reaffirmed its “neutral” rating on PPDAI Group, maintaining a $4.10 price target that implies 13.57% potential upside from the reported $3.61 share price.
• FINV shares fell 10.2% to $3.61, reaching their 12-month low. The stock has an average analyst rating of “Hold” and an average price target of $4.10.
• PPDAI Group exceeded quarterly expectations, reporting earnings of $0.26 per share versus the $0.23 consensus and revenue of $465.58 million versus estimates of $438.70 million; institutional investors own 31.15% of the company.

PPDAI Group (NYSE:FINV - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at Citigroup in a report released on Friday, MarketBeat.com reports. They currently have a $4.10 target price on the stock. Citigroup's price target would suggest a potential upside of 13.57% from the stock's current price.

Separately, Weiss Ratings lowered shares of PPDAI Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $4.10.

PPDAI Group Stock Down 10.2%

FINV stock traded down $0.41 on Friday, hitting $3.61. 428,843 shares of the company's stock were exchanged, compared to its average volume of 983,028. PPDAI Group has a 12-month low of $3.61 and a 12-month high of $8.40. The firm has a 50 day moving average price of $4.68 and a two-hundred day moving average price of $4.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.36 and a current ratio of 3.36. The stock has a market cap of $878.28 million, a P/E ratio of 3.03 and a beta of 0.36.

PPDAI Group (NYSE:FINV - Get Free Report) last issued its quarterly earnings results on Monday, May 25th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.03. The business had revenue of $465.58 million for the quarter, compared to analyst estimates of $438.70 million. PPDAI Group had a return on equity of 14.22% and a net margin of 16.58%.

Hedge Funds Weigh In On PPDAI Group

Several large investors have recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in PPDAI Group by 573.9% during the first quarter. Millennium Management LLC now owns 1,050,439 shares of the company's stock worth $10,116,000 after buying an additional 894,566 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of PPDAI Group by 2.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 475,988 shares of the company's stock worth $4,584,000 after acquiring an additional 12,000 shares during the period. Royal Bank of Canada raised its position in shares of PPDAI Group by 114.5% in the first quarter. Royal Bank of Canada now owns 59,266 shares of the company's stock worth $571,000 after acquiring an additional 31,641 shares during the period. Abacus Wealth Partners LLC purchased a new stake in shares of PPDAI Group during the 4th quarter worth about $221,000. Finally, FourThought Financial Partners LLC purchased a new stake in shares of PPDAI Group during the 4th quarter worth about $120,000. 31.15% of the stock is currently owned by institutional investors and hedge funds.

PPDAI Group Company Profile

PPDAI Group Inc operates an online consumer finance marketplace that connects individual and institutional investors with personal and small-business borrowers. Through its digital platform, the company facilitates unsecured consumer loans, auto refinancing loans and small-business financing by leveraging proprietary credit assessment tools and big data analytics. Investors gain exposure to a diversified portfolio of retail credit assets, while borrowers benefit from streamlined application processes and competitive financing rates.

At the core of PPDAI's offering is a multi-layered risk management framework that combines automated credit scoring, manual underwriting oversight and third-party data verification.

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