PPDAI Group (NYSE:FINV) Shares Down 4.9% – Here’s Why

PPDAI Group Inc. Sponsored ADR (NYSE:FINV) shares traded down 4.9% on Wednesday . The stock traded as low as $4.99 and last traded at $4.9850. 1,430,661 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 1,423,611 shares. The stock had previously closed at $5.24.

Wall Street Analysts Forecast Growth

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

PPDAI Group Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.86 and a quick ratio of 2.86. The business’s fifty day moving average price is $6.56 and its 200-day moving average price is $8.10. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 3.41 and a beta of 0.37.

PPDAI Group (NYSE:FINV) last released its quarterly earnings results on Wednesday, November 19th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $489.62 million for the quarter, compared to analyst estimates of $510.18 million. PPDAI Group had a net margin of 19.98% and a return on equity of 18.33%. PPDAI Group has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On PPDAI Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Prudential PLC lifted its stake in PPDAI Group by 146.1% during the 1st quarter. Prudential PLC now owns 1,221,489 shares of the company’s stock valued at $11,763,000 after acquiring an additional 725,149 shares in the last quarter. Walleye Capital LLC raised its holdings in shares of PPDAI Group by 83.5% in the first quarter. Walleye Capital LLC now owns 1,152,183 shares of the company’s stock valued at $11,096,000 after purchasing an additional 524,284 shares during the last quarter. Millennium Management LLC raised its holdings in shares of PPDAI Group by 573.9% in the first quarter. Millennium Management LLC now owns 1,050,439 shares of the company’s stock valued at $10,116,000 after purchasing an additional 894,566 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of PPDAI Group by 134.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 980,945 shares of the company’s stock valued at $9,446,000 after purchasing an additional 562,468 shares in the last quarter. Finally, Nuveen LLC purchased a new position in PPDAI Group during the first quarter worth about $6,728,000. 31.15% of the stock is owned by hedge funds and other institutional investors.

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.