PPDAI Group (NYSE:FINV) Shares Up 5.2% - Here's Why

Key Points

• PPDAI Group's shares increased by 5.2% during trading, reaching a last traded price of $9.28 compared to the previous close of $8.82.
• UBS Group upgraded the company's stock rating from "neutral" to "buy" and raised the target price from $11.80 to $12.10.
• In the last quarter, PPDAI Group reported $0.41 earnings per share and a revenue of $479.70 million, demonstrating a net margin of 19.44% and return on equity of 18.15%.

PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Get Free Report)'s share price shot up 5.2% during trading on Friday . The company traded as high as $9.35 and last traded at $9.28. 568,565 shares changed hands during trading, a decline of 55% from the average session volume of 1,261,329 shares. The stock had previously closed at $8.82.

Analyst Upgrades and Downgrades

Separately, UBS Group upgraded shares of PPDAI Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $11.80 to $12.10 in a research report on Friday, May 23rd.

PPDAI Group Stock Performance

The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 6.77 and a beta of 0.35. The company has a 50 day moving average price of $9.35 and a two-hundred day moving average price of $8.76.

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 net margin of 19.44% and a return on equity of 18.15%. The firm had revenue of $479.70 million during the quarter.

Institutional Investors Weigh In On PPDAI Group

Several hedge funds and other institutional investors have recently bought and sold shares of FINV. Bank of America Corp DE grew its holdings in shares of PPDAI Group by 2.8% in the fourth quarter. Bank of America Corp DE now owns 3,162,853 shares of the company's stock valued at $21,476,000 after purchasing an additional 84,863 shares in the last quarter. Man Group plc grew its holdings in PPDAI Group by 3.4% during the 4th quarter. Man Group plc now owns 2,616,814 shares of the company's stock worth $17,768,000 after acquiring an additional 86,411 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in PPDAI Group by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,329,814 shares of the company's stock worth $15,820,000 after acquiring an additional 19,984 shares in the last quarter. Prudential PLC grew its stake in shares of PPDAI Group by 146.1% during the first quarter. Prudential PLC now owns 1,221,489 shares of the company's stock worth $11,763,000 after purchasing an additional 725,149 shares in the last quarter. Finally, Walleye Capital LLC grew its stake in shares of PPDAI Group by 83.5% during the first quarter. Walleye Capital LLC now owns 1,152,183 shares of the company's stock worth $11,096,000 after purchasing an additional 524,284 shares in the last quarter. 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.

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