PPDAI Group Inc. Sponsored ADR (NYSE:FINV) Shares Bought by Prudential PLC

Key Points

• Prudential PLC significantly boosted its holdings in PPDAI Group by 146.1% during the first quarter, owning approximately 1.22 million shares worth about $11.76 million.
• Several hedge funds have also increased their positions in PPDAI Group, with some showing increases of over 380% in recent quarters.
• PPDAI Group recently reported $0.41 earnings per share with a revenue of $479.70 million, and UBS upgraded its stock rating from "neutral" to "buy" with a price target of $12.10.

Prudential PLC lifted its stake in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) by 146.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,221,489 shares of the company's stock after acquiring an additional 725,149 shares during the period. Prudential PLC owned 0.48% of PPDAI Group worth $11,763,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Cerity Partners LLC boosted its stake in shares of PPDAI Group by 2.5% during the first quarter. Cerity Partners LLC now owns 59,268 shares of the company's stock valued at $571,000 after acquiring an additional 1,439 shares during the last quarter. WealthCollab LLC boosted its stake in shares of PPDAI Group by 8.5% during the fourth quarter. WealthCollab LLC now owns 18,708 shares of the company's stock valued at $127,000 after acquiring an additional 1,459 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of PPDAI Group by 5.5% during the first quarter. SG Americas Securities LLC now owns 29,753 shares of the company's stock valued at $287,000 after acquiring an additional 1,554 shares during the last quarter. D Orazio & Associates Inc. boosted its stake in shares of PPDAI Group by 4.4% during the first quarter. D Orazio & Associates Inc. now owns 47,576 shares of the company's stock valued at $458,000 after acquiring an additional 2,011 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in shares of PPDAI Group by 5.3% during the fourth quarter. LPL Financial LLC now owns 44,870 shares of the company's stock valued at $305,000 after acquiring an additional 2,257 shares during the last quarter. Institutional investors and hedge funds own 31.15% of the company's stock.

Wall Street Analyst Weigh In

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

PPDAI Group Trading Up 5.9%

Shares of PPDAI Group stock traded up $0.52 during trading hours on Friday, reaching $9.34. The stock had a trading volume of 1,723,621 shares, compared to its average volume of 1,673,966. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 6.82 and a beta of 0.35. PPDAI Group Inc. Sponsored ADR has a 1 year low of $5.14 and a 1 year high of $11.08. The firm has a 50 day simple moving average of $9.36 and a two-hundred day simple moving average of $8.78.

PPDAI Group (NYSE:FINV - Get Free Report) last announced its earnings results on Tuesday, May 20th. The company reported $0.41 EPS for the quarter. The business 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%.

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.