Wellington Management Group LLP Sells 173,017 Shares of PPDAI Group Inc. Sponsored ADR $FINV

Key Points

• Wellington Management Group LLP reduced its holdings in PPDAI Group Inc. by 32.7%, now owning 356,101 shares valued at approximately $3.43 million.
• Several institutional investors, including Bank of America and Prudential PLC, have increased their stakes in PPDAI Group, indicating growing institutional interest in the stock.
• Analysts have a consensus "Buy" rating on PPDAI Group, with a target price of $11.55 after UBS Group upgraded its rating from "neutral" to "buy."

Wellington Management Group LLP decreased its holdings in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) by 32.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 356,101 shares of the company's stock after selling 173,017 shares during the quarter. Wellington Management Group LLP owned approximately 0.14% of PPDAI Group worth $3,429,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Cerity Partners LLC lifted its position in PPDAI Group by 2.5% during the 1st quarter. Cerity Partners LLC now owns 59,268 shares of the company's stock worth $571,000 after buying an additional 1,439 shares in the last quarter. SG Americas Securities LLC raised its holdings in PPDAI Group by 5.5% during the first quarter. SG Americas Securities LLC now owns 29,753 shares of the company's stock worth $287,000 after acquiring an additional 1,554 shares in the last quarter. D Orazio & Associates Inc. boosted its position in 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 purchasing an additional 2,011 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in PPDAI Group by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 26,369 shares of the company's stock valued at $254,000 after purchasing an additional 2,647 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in PPDAI Group by 21.5% in the first quarter. Cetera Investment Advisers now owns 17,660 shares of the company's stock valued at $170,000 after purchasing an additional 3,125 shares in the last quarter. Institutional investors own 31.15% of the company's stock.

PPDAI Group Stock Performance

FINV stock traded down $0.27 during midday trading on Thursday, reaching $7.78. 1,813,915 shares of the company were exchanged, compared to its average volume of 2,274,879. PPDAI Group Inc. Sponsored ADR has a one year low of $5.14 and a one year high of $11.08. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 5.25 and a beta of 0.41. The business has a 50-day moving average price of $9.20 and a two-hundred day moving average price of $8.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.89 and a quick ratio of 2.89.

PPDAI Group (NYSE:FINV - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $499.46 million for the quarter. PPDAI Group has set its FY 2025 guidance at EPS.

Wall Street Analysts Forecast Growth

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

PPDAI Group 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.