PPDAI Group Inc. Sponsored ADR $FINV Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its holdings in PPDAI Group Inc. by 7.1%, now owning approximately 2.03% of the company with a total of 5,131,870 shares valued at about $49.4 million.
• Several other institutional investors, including Cerity Partners and Mitsubishi UFJ Asset Management, also adjusted their stakes in PPDAI Group during the first quarter, highlighting a mixed interest in the stock.
• PPDAI Group's stock has seen an average rating of "Buy" by analysts, with a consensus target price of $11.55 and recent upgrades by firms like UBS Group.

Acadian Asset Management LLC lessened its holdings in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) by 7.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,131,870 shares of the company's stock after selling 394,293 shares during the period. Acadian Asset Management LLC owned approximately 2.03% of PPDAI Group worth $49,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of PPDAI Group in the first quarter valued at about $111,000. IMC Chicago LLC acquired a new stake in shares of PPDAI Group in the first quarter worth $394,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in PPDAI Group by 134.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 980,945 shares of the company's stock valued at $9,446,000 after buying an additional 562,468 shares in the last quarter. Northern Trust Corp boosted its holdings in PPDAI Group by 41.4% during the fourth quarter. Northern Trust Corp now owns 296,256 shares of the company's stock valued at $2,012,000 after purchasing an additional 86,729 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of PPDAI Group by 22.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 239,926 shares of the company's stock worth $2,310,000 after acquiring an additional 44,656 shares in the last quarter. 31.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group raised shares of PPDAI Group from a "neutral" rating to a "buy" rating and upped their target price for the stock from $11.80 to $12.10 in a research note on Friday, May 23rd. Wall Street Zen cut shares of PPDAI Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 23rd. Two analysts have rated the stock with a Buy rating, According to MarketBeat, PPDAI Group currently has a consensus rating of "Buy" and an average target price of $11.55.

PPDAI Group Stock Down 3.0%

NYSE FINV traded down $0.23 during trading hours on Friday, reaching $7.48. 1,693,233 shares of the company's stock traded hands, compared to its average volume of 2,282,528. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.89 and a quick ratio of 2.89. The firm has a market cap of $1.89 billion, a PE ratio of 5.05 and a beta of 0.41. PPDAI Group Inc. Sponsored ADR has a 52-week low of $5.19 and a 52-week high of $11.08. The firm has a 50-day simple moving average of $8.97 and a 200 day simple moving average of $8.80.

PPDAI Group (NYSE:FINV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $0.41 earnings per share for the quarter. The business had revenue of $499.46 million during the quarter. PPDAI Group had a net margin of 20.28% and a return on equity of 18.88%. PPDAI Group has set its FY 2025 guidance at EPS.

About PPDAI Group

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.