Jiayin Group (NASDAQ:JFIN) Shares Up 5.8% – Here’s Why

Jiayin Group Inc. (NASDAQ:JFIN) rose 5.8% during mid-day trading on Tuesday . The company traded as high as $9.78 and last traded at $9.84. Approximately 3,735 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 90,581 shares. The stock had previously closed at $9.30.

Jiayin Group Stock Performance

The stock has a market capitalization of $544.85 million, a P/E ratio of 3.38 and a beta of 0.78. The company’s 50-day moving average price is $8.53 and its 200 day moving average price is $7.14.

Hedge Funds Weigh In On Jiayin Group

Large investors have recently made changes to their positions in the business. XTX Topco Ltd bought a new position in Jiayin Group in the 4th quarter worth approximately $109,000. Renaissance Technologies LLC grew its stake in Jiayin Group by 10.3% during the fourth quarter. Renaissance Technologies LLC now owns 19,291 shares of the company’s stock valued at $123,000 after acquiring an additional 1,799 shares in the last quarter. Finally, LPL Financial LLC bought a new stake in Jiayin Group in the 4th quarter valued at $174,000. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

About Jiayin Group

Jiayin Group Inc, together with its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates a fintech platform that facilitates connections between individual borrowers and financial institutions. It also offers referral services for investment products offered by the financial service providers; and technology development and services, as well as guarantee services.