Connor Clark & Lunn Investment Management Ltd. Has $9.45 Million Position in PPDAI Group Inc. Sponsored ADR (NYSE:FINV)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in PPDAI Group by 134.4%, acquiring a total of 980,945 shares during the first quarter.
• PPDAI Group's stock recently traded at $8.98 with a market cap of $2.27 billion, and its shares have fluctuated between a 12-month low of $5.14 and a high of $11.08.
• Wall Street analysts have upgraded PPDAI Group's rating from “neutral” to “buy” and raised the target price from $11.80 to $12.10.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) by 134.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 980,945 shares of the company's stock after acquiring an additional 562,468 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.39% of PPDAI Group worth $9,446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FINV. Ativo Capital Management LLC purchased a new position in PPDAI Group during the 1st quarter valued at about $7,113,000. Mackenzie Financial Corp bought a new stake in shares of PPDAI Group in the 4th quarter valued at approximately $3,342,000. EAM Global Investors LLC bought a new stake in shares of PPDAI Group in the 4th quarter valued at approximately $2,613,000. Envestnet Asset Management Inc. bought a new stake in shares of PPDAI Group in the 4th quarter valued at approximately $1,326,000. Finally, Marshall Wace LLP bought a new stake in shares of PPDAI Group in the 4th quarter valued at approximately $1,262,000. Hedge funds and other institutional investors own 31.15% of the company's stock.

PPDAI Group Stock Up 5.9%

Shares of FINV stock traded up $0.52 during trading hours on Friday, reaching $9.34. 1,723,621 shares of the company's stock were exchanged, compared to its average volume of 1,673,966. PPDAI Group Inc. Sponsored ADR has a fifty-two week low of $5.14 and a fifty-two week high of $11.08. The stock has a market capitalization of $2.37 billion, a P/E ratio of 6.82 and a beta of 0.35. The business has a fifty day moving average price of $9.36 and a 200-day moving average price of $8.77.

PPDAI Group (NYSE:FINV - Get Free Report) last issued 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%.

Analyst Upgrades and Downgrades

Separately, UBS Group raised 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 report on Friday, May 23rd.

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.