PPDAI Group (NYSE:FINV) Hits New 1-Year Low - Time to Sell?

Key Points

• PPDAI Group (FINV) fell to a new 52-week low, trading as low as $2.74 and last at $2.785, below its prior close of $2.82.
• Analyst sentiment has weakened: Citigroup downgraded the stock to neutral and cut its price target to $4.10, while Weiss Ratings lowered its rating to sell. MarketBeat reports a consensus “Reduce” rating.
• The company reported quarterly EPS of $0.28 on revenue of $500.91 million; it had a 14.49% net margin and 12.31% return on equity.

PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Get Free Report) reached a new 52-week low during trading on Thursday. The company traded as low as $2.74 and last traded at $2.7850, with a volume of 78,479 shares changing hands. The stock had previously closed at $2.82.

Analyst Ratings Changes

Several brokerages recently commented on FINV. Citigroup lowered shares of PPDAI Group from a "buy" rating to a "neutral" rating and cut their price target for the stock from $8.10 to $4.10 in a research note on Friday, August 28th. Weiss Ratings cut shares of PPDAI Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $4.10.

PPDAI Group Price Performance

The firm has a market capitalization of $648.85 million, a price-to-earnings ratio of 2.51 and a beta of 0.31. The company has a fifty day moving average price of $3.09 and a two-hundred day moving average price of $4.49. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.07.

PPDAI Group (NYSE:FINV - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported $0.28 earnings per share (EPS) for the quarter. The business had revenue of $500.91 million for the quarter. PPDAI Group had a net margin of 14.49% and a return on equity of 12.31%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in PPDAI Group by 8.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 71,206 shares of the company's stock valued at $216,000 after purchasing an additional 5,728 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in shares of PPDAI Group in the third quarter valued at approximately $31,000. Ramsey Quantitative Systems boosted its stake in shares of PPDAI Group by 126.8% in the third quarter. Ramsey Quantitative Systems now owns 88,000 shares of the company's stock valued at $267,000 after buying an additional 49,200 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of PPDAI Group in the second quarter valued at approximately $122,000. Finally, Squarepoint Ops LLC acquired a new position in PPDAI Group during the second quarter worth $119,000. 31.15% of the stock is owned by hedge funds and other institutional investors.

About PPDAI Group

PPDAI Group, now known as FinVolution Group, operates an online consumer finance platform that connects individual borrowers with financial institutions and other funding partners. The company uses technology and data analytics to support borrower assessment, risk management and loan facilitation. Founded in China, the company has expanded beyond its home market into countries in Southeast Asia, including Indonesia and the Philippines. Its platform serves consumers seeking credit and partners seeking technology-enabled access to consumer lending opportunities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.