Causeway Capital Management LLC Has $22 Million Stock Position in PPDAI Group Inc. Sponsored ADR $FINV

Key Points

• Causeway Capital Management LLC decreased its holdings in PPDAI Group by 18.5%, reducing its share count to approximately 2.28 million, valued at around $22 million.
• Brokerages have recently upgraded PPDAI Group, with UBS Group raising its price target from $11.80 to $12.10, reflecting a positive outlook.
• PPDAI Group's recent quarterly earnings reported an EPS of $0.41, with revenues totaling $499.46 million and a net margin of 20.28%.

Causeway Capital Management LLC reduced its stake in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) by 18.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,284,493 shares of the company's stock after selling 518,351 shares during the period. Causeway Capital Management LLC owned about 0.90% of PPDAI Group worth $22,000,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in shares of PPDAI Group in the 1st quarter worth about $62,000. NewEdge Advisors LLC lifted its position in shares of PPDAI Group by 381.1% in the 4th 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. bought a new position in shares of PPDAI Group in the 4th quarter worth about $90,000. Lighthouse Investment Partners LLC bought a new position in shares of PPDAI Group in the 4th quarter worth about $99,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of PPDAI Group in the 1st quarter worth about $111,000. 31.15% of the stock is owned by institutional investors and hedge funds.

PPDAI Group Stock Down 1.2%

FINV traded down $0.10 on Friday, reaching $8.25. 2,032,370 shares of the company traded hands, compared to its average volume of 2,262,967. The stock's 50 day moving average price is $9.32 and its 200-day moving average price is $8.84. PPDAI Group Inc. Sponsored ADR has a 52-week low of $5.14 and a 52-week high of $11.08. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 5.57 and a beta of 0.35. 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 (NYSE:FINV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The company reported $0.41 EPS for the quarter. PPDAI Group had a net margin of 20.28% and a return on equity of 18.88%. The firm had revenue of $499.46 million for the quarter. PPDAI Group has set its FY 2025 guidance at EPS.

Analyst Ratings Changes

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

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.