XTX Topco Ltd Acquires 31,779 Shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV)

XTX Topco Ltd increased its holdings in PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Free Report) by 71.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,182 shares of the company's stock after buying an additional 31,779 shares during the period. XTX Topco Ltd's holdings in PPDAI Group were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cerity Partners LLC grew its stake in shares of PPDAI Group by 2.5% in the first quarter. Cerity Partners LLC now owns 59,268 shares of the company's stock worth $571,000 after purchasing an additional 1,439 shares during the last quarter. WealthCollab LLC boosted its position in 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 position in 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 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 acquiring an additional 2,011 shares during the last quarter. Finally, LPL Financial LLC boosted its position in 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. 31.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

PPDAI Group Stock Performance

NYSE:FINV traded up $0.21 on Friday, hitting $9.14. The stock had a trading volume of 949,546 shares, compared to its average volume of 1,261,640. The stock has a market cap of $2.32 billion, a P/E ratio of 6.67 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's fifty day simple moving average is $9.29 and its two-hundred day simple moving average is $8.70.

PPDAI Group (NYSE:FINV - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported $0.41 earnings per share (EPS) for the quarter. PPDAI Group had a net margin of 19.44% and a return on equity of 18.15%. The company had revenue of $479.70 million during the quarter.

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.