Leading Securities Co Ltd reduced its position in PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) by 37.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,305,208 shares of the company's stock after selling 770,122 shares during the quarter. PPDAI Group comprises approximately 75.5% of Leading Securities Co Ltd's investment portfolio, making the stock its biggest holding. Leading Securities Co Ltd owned about 0.52% of PPDAI Group worth $12,569,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC boosted its holdings in PPDAI Group by 381.1% in the fourth quarter. NewEdge Advisors LLC now owns 12,624 shares of the company's stock valued at $86,000 after purchasing an additional 10,000 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of PPDAI Group in the fourth quarter worth about $90,000. Lighthouse Investment Partners LLC acquired a new position in shares of PPDAI Group in the fourth quarter worth about $99,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of PPDAI Group in the first quarter worth about $111,000. Finally, RHS Financial LLC acquired a new position in shares of PPDAI Group in the first quarter worth about $116,000. 31.15% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, UBS Group upgraded shares of PPDAI Group from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $11.80 to $12.10 in a research report on Friday, May 23rd.
Get Our Latest Stock Analysis on FINV
PPDAI Group Stock Performance
Shares of FINV traded down $0.74 during mid-day trading on Friday, hitting $8.69. 1,863,963 shares of the company were exchanged, compared to its average volume of 1,219,043. PPDAI Group Inc. Sponsored ADR has a 1-year low of $4.97 and a 1-year high of $11.08. The company has a 50 day moving average of $9.29 and a 200-day moving average of $8.58. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 6.33 and a beta of 0.39.
PPDAI Group (NYSE:FINV - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The company reported $0.41 earnings per share for the quarter. The firm had revenue of $479.70 million during the quarter. PPDAI Group had a net margin of 19.44% and a return on equity of 18.15%.
About PPDAI Group
(
Free Report)
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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