FinVolution Group (NYSE:FINV – Get Free Report) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Tuesday,Briefing.com Automated Import reports. The firm presently has a $11.00 price target on the stock, up from their prior price target of $6.00. Citigroup’s price objective would indicate a potential upside of 5.57% from the company’s previous close.
FinVolution Group Stock Performance
Shares of FinVolution Group stock traded up $1.30 during midday trading on Tuesday, hitting $10.42. 1,134,826 shares of the company traded hands, compared to its average volume of 702,802. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 8.84 and a beta of 0.47. The firm’s fifty day moving average price is $7.87 and its 200-day moving average price is $6.80. FinVolution Group has a 12 month low of $4.45 and a 12 month high of $11.05.
FinVolution Group (NYSE:FINV – Get Free Report) last announced its quarterly earnings results on Monday, March 17th. The company reported $0.38 EPS for the quarter. The company had revenue of $473.57 million during the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%.
Institutional Investors Weigh In On FinVolution Group
Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of FinVolution Group in the 4th quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in FinVolution Group in the 3rd quarter valued at about $58,000. Aigen Investment Management LP acquired a new position in FinVolution Group during the 4th quarter valued at about $75,000. NewEdge Advisors LLC boosted its stake in FinVolution Group by 381.1% during the 4th 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 stake in FinVolution Group during the 4th quarter worth approximately $90,000. 31.15% of the stock is currently 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.
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