Vestcor Inc cut its holdings in PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) by 20.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 544,963 shares of the company's stock after selling 144,032 shares during the quarter. Vestcor Inc owned approximately 0.22% of PPDAI Group worth $5,248,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. purchased a new stake in PPDAI Group during the first quarter valued at approximately $111,000. RHS Financial LLC acquired a new position in shares of PPDAI Group during the first quarter worth $116,000. NewEdge Advisors LLC lifted its holdings in shares of PPDAI Group by 381.1% during the 4th 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 stake in shares of PPDAI Group during the 4th quarter valued at $90,000. Finally, Lighthouse Investment Partners LLC purchased a new position in PPDAI Group during the 4th quarter worth $99,000. 31.15% of the stock is currently owned by institutional investors.
PPDAI Group Trading Up 1.3%
FINV traded up $0.11 during midday trading on Monday, hitting $8.35. 477,527 shares of the company traded hands, compared to its average volume of 1,249,988. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 6.08 and a beta of 0.36. PPDAI Group Inc. Sponsored ADR has a 52-week low of $4.97 and a 52-week high of $11.08. The business has a 50 day simple moving average of $9.30 and a two-hundred day simple moving average of $8.68.
PPDAI Group (NYSE:FINV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The company reported $0.41 EPS for the quarter. The company had revenue of $479.70 million during the quarter. PPDAI Group had a return on equity of 18.15% and a net margin of 19.44%.
Wall Street Analyst Weigh In
Separately, UBS Group raised shares of PPDAI Group from a "neutral" rating to a "buy" rating and raised their price target for the stock from $11.80 to $12.10 in a report on Friday, May 23rd.
Check Out Our Latest Research Report on PPDAI Group
PPDAI Group Profile
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Free Report)
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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