PPDAI Group (NYSE:FINV) Stock Price Down 6.3% - Here's Why

Key Points

• PPDAI Group shares fell 6.3% to about $3.95 in Thursday trading, with volume slightly below the daily average.
• Weiss Ratings downgraded the stock from “Hold (C)” to “Hold (C-),” while the broader analyst consensus remains “Hold.”
• The company recently exceeded quarterly expectations, reporting $0.26 in earnings per share on $465.58 million in revenue, above estimates of $0.23 EPS and $438.70 million in revenue.

PPDAI Group Inc. Sponsored ADR (NYSE:FINV - Get Free Report) shares were down 6.3% on Thursday . The company traded as low as $4.01 and last traded at $3.9450. 923,965 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 980,606 shares. The stock had previously closed at $4.21.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of PPDAI Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

PPDAI Group Stock Down 6.3%

The company has a market capitalization of $959.78 million, a PE ratio of 3.33 and a beta of 0.36. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.36 and a current ratio of 3.36. The stock's 50 day moving average is $4.69 and its 200 day moving average is $4.99.

PPDAI Group (NYSE:FINV - Get Free Report) last released its quarterly earnings data on Monday, May 25th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. PPDAI Group had a net margin of 16.58% and a return on equity of 14.22%. The business had revenue of $465.58 million during the quarter, compared to analyst estimates of $438.70 million.

Institutional Trading of PPDAI Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in shares of PPDAI Group by 573.9% during the first quarter. Millennium Management LLC now owns 1,050,439 shares of the company's stock valued at $10,116,000 after buying an additional 894,566 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in PPDAI Group by 2.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 475,988 shares of the company's stock valued at $4,584,000 after acquiring an additional 12,000 shares in the last quarter. Royal Bank of Canada increased its holdings in PPDAI Group by 114.5% during the 1st quarter. Royal Bank of Canada now owns 59,266 shares of the company's stock worth $571,000 after acquiring an additional 31,641 shares during the period. Abacus Wealth Partners LLC bought a new stake in PPDAI Group during the 4th quarter worth approximately $221,000. Finally, FourThought Financial Partners LLC bought a new position in PPDAI Group in the 4th quarter valued at $120,000. Hedge funds and other institutional investors own 31.15% of the company's stock.

About PPDAI Group

PPDAI Group Inc operates an online consumer finance marketplace that connects individual and institutional investors with personal and small-business borrowers. Through its digital platform, the company facilitates unsecured consumer loans, auto refinancing loans and small-business financing by leveraging proprietary credit assessment tools and big data analytics. Investors gain exposure to a diversified portfolio of retail credit assets, while borrowers benefit from streamlined application processes and competitive financing rates.

At the core of PPDAI's offering is a multi-layered risk management framework that combines automated credit scoring, manual underwriting oversight and third-party data verification.

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