FinVolution Group (NYSE:FINV) Sets New 52-Week High – What’s Next?

FinVolution Group (NYSE:FINV) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $8.34 and last traded at $8.33, with a volume of 466739 shares traded. The stock had previously closed at $8.06.

FinVolution Group Stock Performance

The stock has a 50-day moving average of $7.16 and a 200 day moving average of $6.31. The firm has a market capitalization of $2.21 billion, a P/E ratio of 7.19 and a beta of 0.49.

Institutional Investors Weigh In On FinVolution Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of FinVolution Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company’s stock worth $35,649,000 after acquiring an additional 41,759 shares during the last quarter. State Street Corp increased its position in FinVolution Group by 8.3% in the third quarter. State Street Corp now owns 3,496,614 shares of the company’s stock worth $21,609,000 after purchasing an additional 268,843 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in FinVolution Group by 20.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,217,497 shares of the company’s stock worth $15,057,000 after purchasing an additional 379,025 shares during the last quarter. Leading Securities Co Ltd acquired a new position in FinVolution Group during the 4th quarter valued at about $14,091,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of FinVolution Group by 11.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,037,878 shares of the company’s stock valued at $7,047,000 after purchasing an additional 108,495 shares during the last quarter. Institutional investors own 31.15% of the company’s stock.

About FinVolution Group

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.