UBS Group Upgrades FinVolution Group (NYSE:FINV) to Buy

FinVolution Group (NYSE:FINV - Get Free Report) was upgraded by UBS Group from a "neutral" rating to a "buy" rating in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $12.10 target price on the stock, up from their previous target price of $11.80. UBS Group's target price suggests a potential upside of 43.94% from the stock's current price.

Separately, Citigroup upgraded shares of FinVolution Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $6.00 to $11.00 in a report on Tuesday, March 18th.

FinVolution Group Trading Down 2.1%

NYSE:FINV opened at $8.41 on Friday. FinVolution Group has a 12-month low of $4.63 and a 12-month high of $11.08. The firm has a market cap of $2.13 billion, a PE ratio of 7.25 and a beta of 0.30. The stock has a fifty day moving average price of $8.58 and a 200 day moving average price of $7.72.

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

FinVolution Group declared that its board has initiated a stock buyback program on Monday, March 17th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its holdings in FinVolution Group by 90.6% in the fourth quarter. SG Americas Securities LLC now owns 28,199 shares of the company's stock valued at $191,000 after purchasing an additional 13,403 shares in the last quarter. Blue Trust Inc. lifted its position in shares of FinVolution Group by 142.1% during the 4th quarter. Blue Trust Inc. now owns 38,138 shares of the company's stock worth $236,000 after buying an additional 22,384 shares during the last quarter. Caprock Group LLC boosted its holdings in shares of FinVolution Group by 26.6% in the 4th quarter. Caprock Group LLC now owns 161,495 shares of the company's stock valued at $1,097,000 after buying an additional 33,905 shares in the last quarter. SYM FINANCIAL Corp boosted its holdings in shares of FinVolution Group by 14.4% in the 4th quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company's stock valued at $92,000 after buying an additional 1,706 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of FinVolution Group in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 31.15% of the company's stock.

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.

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