PPDAI Group (NYSE:FINV) Stock Price Up 4.2% - Should You Buy?

PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Get Free Report) rose 4.2% during mid-day trading on Monday . The company traded as high as $10.18 and last traded at $10.25. Approximately 338,528 shares traded hands during trading, a decline of 63% from the average daily volume of 917,719 shares. The stock had previously closed at $9.84.

Analysts Set New Price Targets

Several research analysts have weighed in on FINV shares. UBS Group upgraded PPDAI Group from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $11.80 to $12.10 in a research report on Friday, May 23rd. Citigroup upgraded PPDAI Group from a "neutral" rating to a "buy" rating and raised their price target for the stock from $6.00 to $11.00 in a research report on Tuesday, March 18th.

PPDAI Group Price Performance

The stock has a 50-day simple moving average of $8.93 and a 200-day simple moving average of $8.33. The stock has a market cap of $2.61 billion, a P/E ratio of 7.54 and a beta of 0.39.

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 for the quarter. PPDAI Group had a return on equity of 18.15% and a net margin of 19.44%. The company had revenue of $479.70 million for the quarter.

PPDAI Group declared that its board has authorized a stock repurchase program on Monday, March 17th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Institutional Trading of PPDAI Group

Institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of PPDAI Group by 2.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 475,988 shares of the company's stock valued at $4,584,000 after acquiring an additional 12,000 shares in the last quarter. Ascent Group LLC increased its position in PPDAI Group by 15.9% during the first quarter. Ascent Group LLC now owns 29,977 shares of the company's stock valued at $289,000 after acquiring an additional 4,111 shares during the last quarter. Caxton Associates LLP purchased a new stake in PPDAI Group in the first quarter worth about $319,000. Millennium Management LLC increased its position in PPDAI Group by 573.9% in the first quarter. Millennium Management LLC now owns 1,050,439 shares of the company's stock worth $10,116,000 after buying an additional 894,566 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in PPDAI Group by 114.5% during the first quarter. Royal Bank of Canada now owns 59,266 shares of the company's stock valued at $571,000 after buying an additional 31,641 shares during the last quarter. Hedge funds and other institutional investors own 31.15% of the company's stock.

About PPDAI Group

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.