PPDAI Group (NYSE:FINV) Reaches New 1-Year Low – Here’s Why

Shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $5.46 and last traded at $5.4840, with a volume of 2935356 shares trading hands. The stock had previously closed at $5.97.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FINV shares. Weiss Ratings cut PPDAI Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wall Street Zen lowered shares of PPDAI Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.55.

PPDAI Group Stock Performance

The stock has a market capitalization of $1.39 billion, a PE ratio of 3.71 and a beta of 0.37. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $6.78 and a 200-day moving average of $8.20.

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

Institutional Trading of PPDAI Group

Hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in PPDAI Group by 22.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 239,926 shares of the company’s stock worth $2,310,000 after acquiring an additional 44,656 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of PPDAI Group by 2.5% in the 1st quarter. Cerity Partners LLC now owns 59,268 shares of the company’s stock valued at $571,000 after purchasing an additional 1,439 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of PPDAI Group by 21.5% during the 1st quarter. Cetera Investment Advisers now owns 17,660 shares of the company’s stock worth $170,000 after purchasing an additional 3,125 shares during the last quarter. XTX Topco Ltd grew its stake in shares of PPDAI Group by 71.6% during the first quarter. XTX Topco Ltd now owns 76,182 shares of the company’s stock worth $734,000 after purchasing an additional 31,779 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of PPDAI Group by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 26,369 shares of the company’s stock worth $254,000 after purchasing an additional 2,647 shares in the last quarter. Institutional investors and hedge funds own 31.15% of the company’s stock.

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.