PPDAI Group (NYSE:FINV) Stock Price Up 2.3% – Here’s What Happened

PPDAI Group Inc. Sponsored ADR (NYSE:FINV) traded up 2.3% during trading on Tuesday . The stock traded as high as $4.86 and last traded at $4.84. 669,061 shares were traded during trading, a decline of 33% from the average daily volume of 997,938 shares. The stock had previously closed at $4.73.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of PPDAI Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, PPDAI Group has an average rating of “Hold”.

PPDAI Group Price Performance

The firm’s 50-day moving average is $4.94 and its 200-day moving average is $5.15. The company has a market capitalization of $1.15 billion, a PE ratio of 3.96 and a beta of 0.34. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.07.

PPDAI Group (NYSE:FINV) last released its quarterly earnings results on Monday, May 25th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. PPDAI Group had a return on equity of 14.22% and a net margin of 16.58%.The business had revenue of $465.58 million for the quarter, compared to the consensus estimate of $438.70 million.

Insider Activity at PPDAI Group

In related news, Director Bing Xiang sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $1.07, for a total transaction of $80,250.00. Following the transaction, the director directly owned 18,750 shares of the company’s stock, valued at approximately $20,062.50. This trade represents a 80.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 44.00% of the company’s stock.

Institutional Trading of PPDAI Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC raised its stake in shares of PPDAI Group by 573.9% during the first quarter. Millennium Management LLC now owns 1,050,439 shares of the company’s stock worth $10,116,000 after acquiring an additional 894,566 shares in the last quarter. Abacus Wealth Partners LLC bought a new stake in shares of PPDAI Group in the 4th quarter worth approximately $221,000. Royal Bank of Canada boosted its stake in shares of PPDAI Group by 114.5% in the 1st quarter. Royal Bank of Canada now owns 59,266 shares of the company’s stock valued at $571,000 after purchasing an additional 31,641 shares in the last quarter. FourThought Financial Partners LLC purchased a new stake in shares of PPDAI Group in the 4th quarter valued at $120,000. Finally, SG Americas Securities LLC grew its holdings in shares of PPDAI Group by 110.4% during the 4th quarter. SG Americas Securities LLC now owns 26,404 shares of the company’s stock valued at $138,000 after purchasing an additional 13,855 shares during the last quarter. 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.