FinVolution Group (NYSE:FINV) Shares Gap Up - Should You Buy?

FinVolution Group (NYSE:FINV - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $8.63, but opened at $9.10. FinVolution Group shares last traded at $8.57, with a volume of 161,183 shares changing hands.

Wall Street Analysts Forecast Growth

FINV has been the topic of a number of research analyst reports. UBS Group upgraded shares of FinVolution Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $11.80 to $12.10 in a research note on Friday. Citigroup raised shares of FinVolution Group from a "neutral" rating to a "buy" rating and increased their price target for the stock from $6.00 to $11.00 in a research report on Tuesday, March 18th.

FinVolution Group Trading Up 2.3%

The company has a market cap of $2.18 billion, a price-to-earnings ratio of 7.41 and a beta of 0.30. The firm has a 50-day moving average price of $8.54 and a 200 day moving average price of $7.76.

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

FinVolution Group Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 16th were issued a dividend of $0.277 per share. This represents a dividend yield of 2%. The ex-dividend date was Wednesday, April 16th. This is a boost from FinVolution Group's previous annual dividend of $0.24. FinVolution Group's payout ratio is 15.33%.

FinVolution Group declared that its board has initiated 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 buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Institutional Trading of FinVolution Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in FinVolution Group during the 4th quarter worth about $28,000. Quantbot Technologies LP purchased a new position in shares of FinVolution Group in the first quarter worth approximately $62,000. Aigen Investment Management LP acquired a new stake in shares of FinVolution Group during the fourth quarter valued at approximately $75,000. NewEdge Advisors LLC lifted its position in shares of FinVolution Group by 381.1% in the 4th quarter. NewEdge Advisors LLC now owns 12,624 shares of the company's stock valued at $86,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in shares of FinVolution Group in the 4th quarter valued at approximately $90,000. 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.