PPDAI Group (NYSE:FINV) Trading Up 4.2% - Time to Buy?

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FINV. Citigroup raised PPDAI Group from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $6.00 to $11.00 in a research note on Tuesday, March 18th. UBS Group raised 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 note on Friday, May 23rd.

PPDAI Group Trading Down 1.4%

The firm has a market cap of $2.50 billion, a P/E ratio of 7.22 and a beta of 0.39. The firm has a 50-day simple moving average of $8.89 and a 200-day simple moving average of $8.32.

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

PPDAI Group announced that its board has initiated a stock buyback program on Monday, March 17th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. acquired a new position in PPDAI Group in the first quarter valued at approximately $111,000. IMC Chicago LLC acquired a new position in PPDAI Group in the first quarter valued at approximately $394,000. Northern Trust Corp lifted its holdings in PPDAI Group by 41.4% in the fourth quarter. Northern Trust Corp now owns 296,256 shares of the company's stock valued at $2,012,000 after acquiring an additional 86,729 shares during the last quarter. Leading Securities Co Ltd purchased a new stake in PPDAI Group in the fourth quarter valued at approximately $14,091,000. Finally, SG Americas Securities LLC raised its position in PPDAI Group by 5.5% in the first quarter. SG Americas Securities LLC now owns 29,753 shares of the company's stock valued at $287,000 after purchasing an additional 1,554 shares during the period. 31.15% of the stock is currently owned by institutional investors and hedge funds.

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.