PPDAI Group (NYSE:FINV) Stock Price Down 5.4% – Here’s Why

PPDAI Group Inc. Sponsored ADR (NYSE:FINV)’s share price dropped 5.4% during mid-day trading on Wednesday . The stock traded as low as $5.56 and last traded at $5.6450. Approximately 862,585 shares changed hands during trading, a decline of 38% from the average daily volume of 1,397,311 shares. The stock had previously closed at $5.97.

Analyst Upgrades and Downgrades

FINV has been the topic of several analyst reports. Wall Street Zen lowered shares of PPDAI Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings lowered PPDAI Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, PPDAI Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.55.

PPDAI Group Price Performance

The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 3.78 and a beta of 0.37. The company has a 50 day moving average of $6.82 and a 200 day moving average of $8.22.

PPDAI Group (NYSE:FINV) last announced its earnings results on Wednesday, August 20th. The company reported $0.41 earnings per share for the quarter. The firm had revenue of $499.46 million during the quarter. PPDAI Group had a net margin of 20.28% and a return on equity of 18.88%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC raised its position in PPDAI Group by 573.9% in the first quarter. Millennium Management LLC now owns 1,050,439 shares of the company’s stock valued at $10,116,000 after purchasing an additional 894,566 shares during the last quarter. Prudential PLC boosted its stake in shares of PPDAI Group by 146.1% in the 1st quarter. Prudential PLC now owns 1,221,489 shares of the company’s stock valued at $11,763,000 after purchasing an additional 725,149 shares during the last quarter. Nuveen LLC bought a new stake in PPDAI Group during the first quarter valued at $6,728,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of PPDAI Group by 134.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 980,945 shares of the company’s stock valued at $9,446,000 after acquiring an additional 562,468 shares during the period. Finally, Walleye Capital LLC boosted its stake in PPDAI Group by 83.5% during the first quarter. Walleye Capital LLC now owns 1,152,183 shares of the company’s stock worth $11,096,000 after acquiring an additional 524,284 shares in the last quarter. 31.15% of the stock is owned by institutional investors.

PPDAI 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.