Short Interest in FinVolution Group (NYSE:FINV) Decreases By 49.5%

FinVolution Group (NYSE:FINV - Get Free Report) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 2,220,000 shares, a drop of 49.5% from the April 30th total of 4,400,000 shares. Currently, 1.6% of the company's shares are sold short. Based on an average daily trading volume, of 1,160,000 shares, the short-interest ratio is presently 1.9 days.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FINV shares. UBS Group upgraded shares of FinVolution Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $11.80 to $12.10 in a research report on Friday, May 23rd. Citigroup raised shares of FinVolution Group from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $6.00 to $11.00 in a research report on Tuesday, March 18th.

FinVolution Group Price Performance

Shares of FinVolution Group stock opened at $8.37 on Monday. FinVolution Group has a 1 year low of $4.63 and a 1 year high of $11.08. The company has a market capitalization of $2.12 billion, a P/E ratio of 7.21 and a beta of 0.30. The business has a 50-day moving average of $8.39 and a two-hundred day moving average of $7.85.

FinVolution Group (NYSE:FINV - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The company reported $0.41 earnings per share (EPS) for the quarter. The firm had revenue of $479.70 million during the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%.

FinVolution Group declared that its board has authorized a stock buyback program on Monday, March 17th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

FinVolution Group Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th were paid a dividend of $0.277 per share. This represents a yield of 2%. The ex-dividend date of this dividend was Wednesday, April 16th. This is an increase from FinVolution Group's previous annual dividend of $0.24. FinVolution Group's dividend payout ratio (DPR) is currently 15.33%.

Hedge Funds Weigh In On FinVolution Group

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of FinVolution Group in the 4th quarter valued at about $28,000. Quantbot Technologies LP acquired a new stake in FinVolution Group in the first quarter valued at approximately $62,000. Aigen Investment Management LP bought a new stake in shares of FinVolution Group during the fourth quarter valued at approximately $75,000. NewEdge Advisors LLC raised its position in shares of FinVolution Group by 381.1% during the fourth quarter. NewEdge Advisors LLC now owns 12,624 shares of the company's stock worth $86,000 after purchasing an additional 10,000 shares during the period. Finally, Ameriprise Financial Inc. bought a new position in shares of FinVolution Group in the 4th quarter worth $90,000. 31.15% of the stock is owned by institutional investors and hedge funds.

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.