FinVolution Group (NYSE:FINV) Upgraded by UBS Group to "Buy" Rating

FinVolution Group (NYSE:FINV - Get Free Report) was upgraded by equities research analysts at UBS Group from a "neutral" rating to a "buy" rating in a research report issued on Friday, MarketBeat.com reports. The brokerage presently has a $12.10 price objective on the stock, up from their previous price objective of $11.80. UBS Group's price target indicates a potential upside of 40.66% from the stock's current price.

Separately, Citigroup upgraded shares of FinVolution Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $6.00 to $11.00 in a research note on Tuesday, March 18th.

FinVolution Group Price Performance

FINV stock traded down $0.07 during midday trading on Friday, hitting $8.60. The stock had a trading volume of 370,902 shares, compared to its average volume of 823,333. The business has a 50-day moving average of $8.47 and a two-hundred day moving average of $7.78. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 7.41 and a beta of 0.30. FinVolution Group has a 52-week low of $4.63 and a 52-week high of $11.08.

FinVolution Group (NYSE:FINV - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported $0.41 earnings per share (EPS) for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%. The company had revenue of $479.70 million during the quarter.

FinVolution Group declared that its board has authorized a stock buyback program on Monday, March 17th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in FinVolution Group in the 4th quarter worth about $28,000. Quantbot Technologies LP bought a new stake in shares of FinVolution Group in the first quarter worth approximately $62,000. Aigen Investment Management LP purchased a new position in shares of FinVolution Group during the fourth quarter valued at approximately $75,000. NewEdge Advisors LLC raised its holdings in shares of FinVolution Group by 381.1% during the fourth quarter. NewEdge Advisors LLC now owns 12,624 shares of the company's stock valued at $86,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new position in FinVolution Group during the fourth quarter valued at approximately $90,000. 31.15% of the stock is owned by institutional investors.

FinVolution Group Company Profile

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.