PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Get Free Report) traded down 5.1% during mid-day trading on Wednesday . The stock traded as low as $10.09 and last traded at $10.06. 1,222,070 shares traded hands during mid-day trading, an increase of 28% from the average session volume of 954,572 shares. The stock had previously closed at $10.60.
Wall Street Analyst Weigh In
Separately, UBS Group raised shares of PPDAI Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $11.80 to $12.10 in a research note on Friday, May 23rd.
Check Out Our Latest Report on FINV
PPDAI Group Stock Up 0.4%
The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 7.36 and a beta of 0.39. The company's fifty day simple moving average is $9.14 and its 200 day simple moving average is $8.45.
PPDAI Group (NYSE:FINV - Get Free Report) last announced its 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.
Institutional Trading of PPDAI Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC bought a new position in PPDAI Group during the 2nd quarter valued at $31,000. Quantbot Technologies LP bought a new stake in shares of PPDAI Group during the 1st quarter worth $62,000. NewEdge Advisors LLC raised its stake in shares of PPDAI Group by 381.1% during the 4th 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. Ameriprise Financial Inc. bought a new stake in PPDAI Group in the 4th quarter valued at about $90,000. Finally, Lighthouse Investment Partners LLC bought a new stake in PPDAI Group in the 4th quarter valued at about $99,000. Institutional investors and hedge funds own 31.15% of the company's stock.
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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