Causeway Capital Management LLC Decreases Holdings 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 lowered its holdings in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in FINV. Quantbot Technologies LP purchased a new position in shares of PPDAI Group in the first quarter worth about $62,000. NewEdge Advisors LLC boosted its position in PPDAI Group by 381.1% during the 4th quarter. NewEdge Advisors LLC now owns 12,624 shares of the company's stock valued at $86,000 after buying an additional 10,000 shares during the period. Ameriprise Financial Inc. bought a new stake in PPDAI Group in the 4th quarter worth $90,000. Lighthouse Investment Partners LLC purchased a new position in shares of PPDAI Group in the fourth quarter valued at about $99,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of PPDAI Group during the first quarter worth about $111,000. 31.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FINV. UBS Group upgraded PPDAI Group from a "neutral" rating to a "buy" rating and boosted their price target 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 note on Saturday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $11.55.

PPDAI Group Price Performance

FINV opened at $9.34 on Tuesday. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 6.31 and a beta of 0.35. The stock has a fifty day simple moving average of $9.39 and a two-hundred day simple moving average of $8.83. PPDAI Group Inc. Sponsored ADR has a 12-month low of $5.14 and a 12-month high of $11.08.

PPDAI Group (NYSE:FINV - Get Free Report) last posted 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 business had revenue of $499.46 million for the quarter. PPDAI Group has set its FY 2025 guidance at EPS.

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.

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