FinVolution Group (NYSE:FINV) Sees Significant Decrease in Short Interest

FinVolution Group (NYSE:FINV - Get Free Report) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,910,000 shares, a decline of 14.7% from the March 31st total of 2,240,000 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 1,190,000 shares, the short-interest ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

FINV has been the topic of several research reports. UBS Group restated a "neutral" rating and issued a $11.80 target price (up previously from $7.80) on shares of FinVolution Group in a report on Thursday, March 20th. Citigroup raised FinVolution Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $6.00 to $11.00 in a report on Tuesday, March 18th.

FinVolution Group Stock Up 5.3 %

NYSE FINV opened at $8.41 on Friday. The company has a 50-day moving average price of $8.54 and a 200-day moving average price of $7.48. FinVolution Group has a 52 week low of $4.63 and a 52 week high of $11.08. The firm has a market capitalization of $2.23 billion, a P/E ratio of 7.25 and a beta of 0.32.

FinVolution Group (NYSE:FINV - Get Free Report) last announced its earnings results on Monday, March 17th. The company reported $0.38 EPS for the quarter. The business had revenue of $473.57 million during the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%.

FinVolution Group announced that its Board of Directors has approved a share repurchase program on Monday, March 17th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

FinVolution Group Increases Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th will be given a dividend of $0.277 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This is an increase from FinVolution Group's previous annual dividend of $0.24. This represents a yield of 2%. FinVolution Group's payout ratio is 16.80%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FINV. Mirae Asset Global Investments Co. Ltd. purchased a new stake in FinVolution Group in the 4th quarter worth approximately $28,000. Aigen Investment Management LP purchased a new stake in shares of FinVolution Group in the fourth quarter worth $75,000. NewEdge Advisors LLC raised its position in shares of FinVolution 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 period. Ameriprise Financial Inc. purchased a new position in shares of FinVolution Group during the 4th quarter valued at $90,000. Finally, SYM FINANCIAL Corp boosted its holdings in FinVolution Group by 14.4% in the 4th quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company's stock worth $92,000 after buying an additional 1,706 shares during the period. Institutional investors own 31.15% of the company's stock.

FinVolution 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.

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