Shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Get Free Report) saw strong trading volume on Friday . 11,611,129 shares were traded during mid-day trading, an increase of 1,038% from the previous session's volume of 1,019,944 shares.The stock last traded at $9.48 and had previously closed at $9.51.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on FINV shares. Citigroup raised PPDAI Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $6.00 to $11.00 in a research report on Tuesday, March 18th. UBS Group raised shares of PPDAI Group from a "neutral" rating to a "buy" rating and raised their price target for the company from $11.80 to $12.10 in a report on Friday, May 23rd.
View Our Latest Report on PPDAI Group
PPDAI Group Stock Up 1.8%
The company has a market cap of $2.39 billion, a PE ratio of 6.88 and a beta of 0.37. The company's fifty day moving average is $8.38 and its 200-day moving average is $8.10.
PPDAI 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. PPDAI Group had a return on equity of 18.15% and a net margin of 19.44%. The firm had revenue of $479.70 million for the quarter.
PPDAI Group announced that its board has initiated a share buyback plan on Monday, March 17th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On PPDAI Group
Institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new stake in PPDAI Group in the fourth quarter worth about $976,000. Y Intercept Hong Kong Ltd bought a new position in shares of PPDAI Group during the 4th quarter valued at approximately $131,000. QRG Capital Management Inc. grew its stake in shares of PPDAI Group by 11.4% during the 4th quarter. QRG Capital Management Inc. now owns 72,319 shares of the company's stock valued at $491,000 after acquiring an additional 7,374 shares during the period. SVB Wealth LLC purchased a new stake in PPDAI Group in the 4th quarter worth approximately $96,000. Finally, Aigen Investment Management LP purchased a new stake in PPDAI Group in the 4th quarter worth approximately $75,000. 31.15% of the stock is owned by institutional investors.
About PPDAI Group
(
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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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