PPDAI Group Inc. Sponsored ADR $FINV Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its holdings in PPDAI Group Inc. by 2.2%, selling 112,948 shares, which leaves it owning about 5.1 million shares valued at approximately $49.5 million.
• Several hedge funds, including Bank of America and Wellington Management Group, have recently increased their stakes in PPDAI Group, indicating renewed interest from institutional investors.
• Wall Street analysts generally maintain a positive outlook on PPDAI Group, with a consensus rating of "Buy" and a target price of $11.55, following recent upgrades from firms like UBS Group.

Vanguard Group Inc. trimmed its position in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) by 2.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,137,330 shares of the company's stock after selling 112,948 shares during the period. Vanguard Group Inc. owned about 2.03% of PPDAI Group worth $49,472,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FINV. Ativo Capital Management LLC bought a new position in PPDAI Group during the 1st quarter valued at about $7,113,000. Mackenzie Financial Corp bought a new position in PPDAI Group during the 4th quarter valued at about $3,342,000. Envestnet Asset Management Inc. purchased a new stake in PPDAI Group in the 4th quarter valued at about $1,326,000. Marshall Wace LLP bought a new position in PPDAI Group in the 4th quarter worth about $1,262,000. Finally, Cubist Systematic Strategies LLC grew its stake in PPDAI Group by 162.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 186,787 shares of the company's stock worth $1,268,000 after acquiring an additional 115,536 shares in the last quarter. 31.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

PPDAI Group Stock Down 1.2%

Shares of FINV traded down $0.10 during mid-day trading on Friday, hitting $8.25. The company's stock had a trading volume of 2,032,370 shares, compared to its average volume of 2,281,971. The company's 50-day moving average is $9.32 and its 200-day moving average is $8.84. PPDAI Group Inc. Sponsored ADR has a 52-week low of $5.14 and a 52-week 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 0.41. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06.

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

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.