PPDAI Group (NYSE:FINV) Trading Down 4.6% - Here's Why

Key Points

• PPDAI Group's shares fell by 4.6%, trading at $7.28, with a significantly reduced trading volume of 122,519 shares compared to an average of 1,382,872 shares.
• Wall Street analysts issued favorable ratings, with a consensus rating of "Buy" and a price target of $11.55, including an upgrade to "strong-buy" by Wall Street Zen.
• In its recent quarterly earnings, PPDAI reported $0.41 earnings per share with a 20.28% net margin and revenue of $499.46 million.

PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Get Free Report) shares dropped 4.6% during mid-day trading on Friday . The stock traded as low as $7.35 and last traded at $7.28. Approximately 122,519 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,382,872 shares. The stock had previously closed at $7.63.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FINV shares. Wall Street Zen upgraded shares of PPDAI Group from a "buy" rating to a "strong-buy" rating in a report on Friday, September 26th. Weiss Ratings reiterated a "buy (b-)" rating on shares of PPDAI Group in a research report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $11.55.

PPDAI Group Price Performance

The firm's fifty day simple moving average is $8.30 and its 200-day simple moving average is $8.73. The firm has a market capitalization of $1.82 billion, a PE ratio of 4.87 and a beta of 0.36. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.06.

PPDAI Group (NYSE:FINV - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The company reported $0.41 earnings per share for the quarter. PPDAI Group had a net margin of 20.28% and a return on equity of 18.88%. The company had revenue of $499.46 million during the quarter. PPDAI Group has set its FY 2025 guidance at EPS.

Hedge Funds Weigh In On PPDAI Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC bought a new stake in shares of PPDAI Group during the 2nd quarter valued at $31,000. Quantbot Technologies LP bought a new stake in shares of PPDAI Group during the 1st quarter valued at $62,000. Ameriprise Financial Inc. purchased a new position in shares of PPDAI Group during the 4th quarter valued at $90,000. Envestnet Portfolio Solutions Inc. bought a new position in PPDAI Group in the 1st quarter worth $111,000. Finally, RHS Financial LLC bought a new stake in PPDAI Group during the first quarter valued at about $116,000. 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.

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