PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Get Free Report) shares fell 6.3% during mid-day trading on Friday . The stock traded as low as $8.92 and last traded at $8.83. 520,740 shares were traded during trading, a decline of 57% from the average session volume of 1,210,793 shares. The stock had previously closed at $9.42.
Analysts Set New Price Targets
Separately, UBS Group raised shares of PPDAI Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $11.80 to $12.10 in a report on Friday, May 23rd.
View Our Latest Analysis on FINV
PPDAI Group Stock Performance
The company has a market capitalization of $2.24 billion, a P/E ratio of 6.46 and a beta of 0.39. The firm has a 50 day moving average price of $9.30 and a two-hundred day moving average price of $8.64.
PPDAI Group (NYSE:FINV - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The company reported $0.41 earnings per share for the quarter. The company 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%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new position in shares of PPDAI Group in the 1st quarter valued at $111,000. IMC Chicago LLC acquired a new stake in PPDAI Group during the 1st quarter worth $394,000. Northern Trust Corp raised its stake in PPDAI Group by 41.4% during the 4th quarter. Northern Trust Corp now owns 296,256 shares of the company's stock worth $2,012,000 after buying an additional 86,729 shares during the period. SG Americas Securities LLC raised its stake in PPDAI Group by 5.5% during the 1st quarter. SG Americas Securities LLC now owns 29,753 shares of the company's stock worth $287,000 after buying an additional 1,554 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in PPDAI Group during the 4th quarter worth $90,000. 31.15% of the stock is currently owned by institutional investors.
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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