Canada Pension Plan Investment Board Takes $3.93 Million Position in PPDAI Group Inc. Sponsored ADR $FINV

Key Points

• The Canada Pension Plan Investment Board has made a new investment in PPDAI Group Inc., purchasing 407,797 shares valued at approximately $3.93 million.
• PPDAI Group has recently attracted multiple institutional investors, increasing overall institutional ownership to 31.15% of the company's stock.
• Analysts have provided optimistic ratings for PPDAI Group, with UBS upgrading the stock to “buy” and raising the price target to $12.10.

Canada Pension Plan Investment Board acquired a new stake in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 407,797 shares of the company's stock, valued at approximately $3,927,000. Canada Pension Plan Investment Board owned approximately 0.16% of PPDAI Group at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of PPDAI Group in the first quarter valued at approximately $62,000. Ameriprise Financial Inc. acquired a new position in shares of PPDAI Group during the fourth quarter valued at about $90,000. Lighthouse Investment Partners LLC acquired a new stake in shares of PPDAI Group during the fourth quarter worth approximately $99,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of PPDAI Group during the 1st quarter worth about $111,000. Finally, RHS Financial LLC bought a new stake in shares of PPDAI Group in the first quarter worth $116,000. 31.15% of the stock is owned by hedge funds and other institutional investors.

PPDAI Group Stock Down 1.4%

FINV traded down $0.11 on Monday, reaching $7.80. 586,572 shares of the company traded hands, compared to its average volume of 1,387,595. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.89 and a quick ratio of 2.89. PPDAI Group Inc. Sponsored ADR has a 52-week low of $5.15 and a 52-week high of $11.08. The stock's 50 day moving average price is $9.17 and its 200-day moving average price is $8.83. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 5.26 and a beta of 0.41.

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 (EPS) for the quarter. The business had revenue of $499.46 million for the quarter. PPDAI Group had a return on equity of 18.88% and a net margin of 20.28%. PPDAI Group has set its FY 2025 guidance at EPS.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group upgraded shares of PPDAI Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $11.80 to $12.10 in a report on Friday, May 23rd. Wall Street Zen cut PPDAI Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, PPDAI Group has a consensus rating of "Buy" and a consensus price target of $11.55.

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.