Ativo Capital Management LLC Makes New $7.11 Million Investment in PPDAI Group Inc. Sponsored ADR (NYSE:FINV)

Ativo Capital Management LLC acquired a new stake in PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 738,680 shares of the company's stock, valued at approximately $7,113,000. PPDAI Group comprises approximately 6.1% of Ativo Capital Management LLC's holdings, making the stock its 3rd biggest position. Ativo Capital Management LLC owned approximately 0.28% of PPDAI Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aigen Investment Management LP purchased a new position in shares of PPDAI Group in the fourth quarter worth approximately $75,000. NewEdge Advisors LLC lifted its holdings in shares of PPDAI Group by 381.1% during the fourth quarter. NewEdge Advisors LLC now owns 12,624 shares of the company's stock worth $86,000 after buying an additional 10,000 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in PPDAI Group in the 4th quarter worth $90,000. SVB Wealth LLC bought a new position in PPDAI Group during the fourth quarter valued at about $96,000. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of PPDAI Group during the fourth quarter valued at approximately $99,000. 31.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup upgraded shares of PPDAI Group from a "neutral" rating to a "buy" rating and boosted their price target for the company from $6.00 to $11.00 in a research report on Tuesday, March 18th. UBS Group upgraded shares of PPDAI Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $11.80 to $12.10 in a research report on Friday, May 23rd.

PPDAI Group Price Performance

PPDAI Group stock traded up $0.39 during mid-day trading on Thursday, hitting $9.90. 1,063,707 shares of the company's stock traded hands, compared to its average volume of 917,464. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 6.56 and a beta of 0.39. The firm has a 50 day simple moving average of $8.72 and a two-hundred day simple moving average of $8.23. PPDAI Group Inc. Sponsored ADR has a fifty-two week low of $4.77 and a fifty-two week high of $11.08.

PPDAI Group (NYSE:FINV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The company reported $0.41 EPS for the quarter. The company had revenue of $479.70 million during the quarter. PPDAI Group had a return on equity of 18.15% and a net margin of 19.44%.

PPDAI Group announced that its Board of Directors has initiated a share buyback program on Monday, March 17th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

PPDAI Group Company Profile

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.