Leading Securities Co Ltd Has $12.57 Million Position in PPDAI Group Inc. Sponsored ADR (NYSE:FINV)

Leading Securities Co Ltd decreased its position in PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) by 37.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,305,208 shares of the company's stock after selling 770,122 shares during the quarter. PPDAI Group makes up 75.5% of Leading Securities Co Ltd's portfolio, making the stock its biggest position. Leading Securities Co Ltd owned approximately 0.52% of PPDAI Group worth $12,569,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Kathmere Capital Management LLC increased its holdings in PPDAI Group by 11.4% in the 1st quarter. Kathmere Capital Management LLC now owns 83,511 shares of the company's stock worth $804,000 after buying an additional 8,530 shares in the last quarter. Cerity Partners LLC increased its holdings in PPDAI Group by 2.5% in the 1st quarter. Cerity Partners LLC now owns 59,268 shares of the company's stock worth $571,000 after buying an additional 1,439 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in PPDAI Group by 22.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 239,926 shares of the company's stock worth $2,310,000 after buying an additional 44,656 shares in the last quarter. Ativo Capital Management LLC bought a new stake in PPDAI Group in the 1st quarter worth about $7,113,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in PPDAI Group in the 1st quarter worth about $111,000. Institutional investors own 31.15% of the company's stock.

Analysts Set New Price Targets

Separately, UBS Group raised PPDAI Group from a "neutral" rating to a "buy" rating and raised their target price for the stock from $11.80 to $12.10 in a research report on Friday, May 23rd.

PPDAI Group Stock Down 1.4%

NYSE:FINV traded down $0.14 on Tuesday, hitting $9.87. The stock had a trading volume of 321,683 shares, compared to its average volume of 972,052. PPDAI Group Inc. Sponsored ADR has a 52-week low of $4.98 and a 52-week high of $11.08. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 7.21 and a beta of 0.39. The business's 50-day simple moving average is $9.21 and its two-hundred day simple moving average is $8.52.

PPDAI Group (NYSE:FINV - Get Free Report) last issued its earnings results on Tuesday, May 20th. The company reported $0.41 earnings per share (EPS) for the quarter. The company had revenue of $479.70 million for the quarter. PPDAI Group had a return on equity of 18.15% and a net margin of 19.44%.

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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