Jiayin Group (NASDAQ:JFIN) Trading Down 6.6% – Here’s What Happened

Shares of Jiayin Group Inc. (NASDAQ:JFIN) dropped 6.6% during mid-day trading on Friday . The stock traded as low as $11.20 and last traded at $11.23. Approximately 137,714 shares were traded during trading, a decline of 4% from the average daily volume of 144,094 shares. The stock had previously closed at $12.02.

Jiayin Group Stock Down 3.3 %

The company’s 50 day moving average price is $9.27 and its 200-day moving average price is $7.46. The stock has a market cap of $623.82 million, a P/E ratio of 3.87 and a beta of 0.78.

Hedge Funds Weigh In On Jiayin Group

Several large investors have recently modified their holdings of JFIN. LPL Financial LLC bought a new position in shares of Jiayin Group during the fourth quarter valued at $174,000. XTX Topco Ltd bought a new position in shares of Jiayin Group during the fourth quarter valued at $109,000. Finally, Renaissance Technologies LLC raised its stake in shares of 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 during the last quarter. Institutional investors own 44.08% of the company’s stock.

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.