Shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV – Get Free Report) were up 10% on Wednesday . The stock traded as high as $5.42 and last traded at $5.4450. Approximately 342,278 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,187,955 shares. The stock had previously closed at $4.95.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of PPDAI Group in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.
View Our Latest Stock Analysis on PPDAI Group
PPDAI Group Trading Down 5.4%
PPDAI Group (NYSE:FINV – Get Free Report) last posted its earnings results on Monday, May 25th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $465.58 million for the quarter, compared to the consensus estimate of $438.70 million. PPDAI Group had a net margin of 16.58% and a return on equity of 14.22%.
PPDAI Group Increases Dividend
The company also recently disclosed an annual dividend, which was paid on Thursday, May 7th. Shareholders of record on Thursday, April 16th were given a dividend of $0.306 per share. This represents a yield of 637.0%. This is a positive change from PPDAI Group’s previous annual dividend of $0.28. The ex-dividend date was Thursday, April 16th.
Insider Activity at PPDAI Group
In other PPDAI Group news, Director Bing Xiang sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $1.07, for a total value of $80,250.00. Following the completion of the sale, the director owned 18,750 shares of the company’s stock, valued at $20,062.50. This trade represents a 80.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 44.00% of the company’s stock.
Hedge Funds Weigh In On PPDAI Group
A number of large investors have recently bought and sold shares of FINV. Millennium Management LLC increased its stake in PPDAI Group by 573.9% in the first quarter. Millennium Management LLC now owns 1,050,439 shares of the company’s stock worth $10,116,000 after purchasing an additional 894,566 shares during the period. Abacus Wealth Partners LLC purchased a new stake in shares of PPDAI Group during the fourth quarter valued at $221,000. Royal Bank of Canada grew its holdings in shares of PPDAI Group by 114.5% in the first quarter. Royal Bank of Canada now owns 59,266 shares of the company’s stock worth $571,000 after purchasing an additional 31,641 shares during the last quarter. FourThought Financial Partners LLC bought a new position in shares of PPDAI Group in the fourth quarter worth about $120,000. Finally, SG Americas Securities LLC increased its stake in PPDAI Group by 110.4% in the 4th quarter. SG Americas Securities LLC now owns 26,404 shares of the company’s stock worth $138,000 after buying an additional 13,855 shares during the period. Hedge funds and other institutional investors own 31.15% of the company’s stock.
About PPDAI Group
PPDAI Group Inc operates an online consumer finance marketplace that connects individual and institutional investors with personal and small-business borrowers. Through its digital platform, the company facilitates unsecured consumer loans, auto refinancing loans and small-business financing by leveraging proprietary credit assessment tools and big data analytics. Investors gain exposure to a diversified portfolio of retail credit assets, while borrowers benefit from streamlined application processes and competitive financing rates.
At the core of PPDAI’s offering is a multi-layered risk management framework that combines automated credit scoring, manual underwriting oversight and third-party data verification.
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