Nuveen LLC Purchases Shares of 698,700 PPDAI Group Inc. Sponsored ADR $FINV

Key Points

• Nuveen LLC has taken a new position in PPDAI Group Inc. by purchasing 698,700 shares valued at approximately $6.73 million, representing about 0.28% ownership of the company.
• PPDAI Group's stock has recently experienced a 3.3% increase and is trading at approximately $9.43, with a market cap of $2.39 billion.
• Following recent brokerage evaluations, PPDAI Group's rating has shifted from "strong-buy" to "buy," with UBS Group projecting a price target increase from $11.80 to $12.10.

Nuveen LLC bought a new stake in PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 698,700 shares of the company's stock, valued at approximately $6,728,000. Nuveen LLC owned about 0.28% of PPDAI Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FINV. NewEdge Advisors LLC grew its stake 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. purchased a new position in PPDAI Group in the fourth quarter valued at about $90,000. Lighthouse Investment Partners LLC purchased a new position in PPDAI Group in the fourth quarter valued at about $99,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of PPDAI Group during the first quarter worth about $111,000. Finally, RHS Financial LLC purchased a new stake in shares of PPDAI Group during the first quarter worth about $116,000. Hedge funds and other institutional investors own 31.15% of the company's stock.

PPDAI Group Stock Performance

Shares of PPDAI Group stock traded down $0.10 on Friday, reaching $8.25. 2,032,370 shares of the stock were exchanged, compared to its average volume of 2,262,967. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.06. PPDAI Group Inc. Sponsored ADR has a twelve month low of $5.14 and a twelve month high of $11.08. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 5.57 and a beta of 0.35. The business has a 50 day moving average price of $9.32 and a two-hundred day moving average price of $8.84.

PPDAI Group (NYSE:FINV - Get Free Report) last released its earnings results on Wednesday, August 20th. The company reported $0.41 EPS for the quarter. PPDAI Group had a return on equity of 18.88% and a net margin of 20.28%.The firm had revenue of $499.46 million during the quarter. PPDAI Group has set its FY 2025 guidance at EPS.

Analysts Set New Price Targets

FINV has been the topic of a number of research analyst reports. UBS Group upgraded PPDAI Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $11.80 to $12.10 in a research note on Friday, May 23rd. Wall Street Zen lowered PPDAI Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 23rd. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $11.55.

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.