National Bank of Canada FI Purchases New Holdings in PPDAI Group Inc. Sponsored ADR $FINV

Key Points

• National Bank of Canada FI has acquired a new stake in PPDAI Group Inc., purchasing 171,141 shares valued at approximately $1.65 million, representing 0.07% ownership of the company.
• Analysts at UBS Group upgraded PPDAI Group from "neutral" to "buy," raising the price target from $11.80 to $12.10.
• PPDAI Group reported earnings of $0.41 EPS for the last quarter, with revenues reaching $479.70 million and a return on equity of 18.15%.

National Bank of Canada FI purchased a new position in PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 171,141 shares of the company's stock, valued at approximately $1,648,000. National Bank of Canada FI owned approximately 0.07% of PPDAI Group at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FINV. NewEdge Advisors LLC increased its holdings in shares of PPDAI Group by 381.1% in the fourth quarter. NewEdge Advisors LLC now owns 12,624 shares of the company's stock worth $86,000 after acquiring an additional 10,000 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of PPDAI Group in the fourth quarter worth about $90,000. Lighthouse Investment Partners LLC bought a new stake in shares of PPDAI Group in the fourth quarter worth about $99,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of PPDAI Group in the first quarter worth about $111,000. Finally, RHS Financial LLC bought a new stake in shares of PPDAI Group in the first quarter worth about $116,000. 31.15% of the stock is currently owned by institutional investors.

PPDAI Group Trading Up 5.5%

Shares of FINV stock traded up $0.4790 on Thursday, hitting $9.1290. 3,253,252 shares of the stock were exchanged, compared to its average volume of 1,901,042. The firm has a market capitalization of $2.31 billion, a P/E ratio of 6.17 and a beta of 0.35. The business has a 50-day moving average of $9.37 and a 200 day moving average of $8.80. PPDAI Group Inc. Sponsored ADR has a fifty-two week low of $5.14 and a fifty-two week 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 earnings per share for the quarter. The company had revenue of $499.46 million during the quarter. PPDAI Group had a return on equity of 19.12% and a net margin of 20.28%. PPDAI Group has set its FY 2025 guidance at EPS.

Wall Street Analyst Weigh In

Separately, UBS Group raised 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. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, PPDAI Group presently has an average 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.