PPDAI Group (NYSE:FINV) Trading Up 5.2% - Here's What Happened

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) shares shot up 5.2% on Friday . The company traded as high as $9.35 and last traded at $9.28. 568,565 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 1,261,329 shares. The stock had previously closed at $8.82.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of PPDAI Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $11.80 to $12.10 in a research report on Friday, May 23rd. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $11.55.

PPDAI Group Price Performance

The stock's 50-day moving average is $9.37 and its two-hundred day moving average is $8.79. The stock has a market cap of $2.18 billion, a P/E ratio of 6.28 and a beta of 0.35.

PPDAI Group (NYSE:FINV - Get Free Report) last released its quarterly earnings data on Wednesday, August 20th. The company reported $0.41 EPS for the quarter. PPDAI Group had a net margin of 19.44% and a return on equity of 18.15%. PPDAI Group has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On PPDAI Group

Hedge funds have recently made changes to their positions in the company. Cerity Partners LLC grew its stake in shares of PPDAI Group by 2.5% in the first quarter. Cerity Partners LLC now owns 59,268 shares of the company's stock worth $571,000 after purchasing an additional 1,439 shares in the last quarter. WealthCollab LLC grew its stake in shares of PPDAI Group by 8.5% in the fourth quarter. WealthCollab LLC now owns 18,708 shares of the company's stock worth $127,000 after purchasing an additional 1,459 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of PPDAI Group by 5.5% in the first quarter. SG Americas Securities LLC now owns 29,753 shares of the company's stock worth $287,000 after purchasing an additional 1,554 shares in the last quarter. D Orazio & Associates Inc. grew its stake in shares of PPDAI Group by 4.4% in the first quarter. D Orazio & Associates Inc. now owns 47,576 shares of the company's stock worth $458,000 after purchasing an additional 2,011 shares in the last quarter. Finally, LPL Financial LLC grew its stake in shares of PPDAI Group by 5.3% in the fourth quarter. LPL Financial LLC now owns 44,870 shares of the company's stock worth $305,000 after purchasing an additional 2,257 shares in the last quarter. 31.15% of the stock is currently owned by hedge funds and other institutional investors.

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.