PPDAI Group Inc – (NYSE:PPDF) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 491,293 shares, a drop of 43.9% from the January 15th total of 875,989 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 945,572 shares, the days-to-cover ratio is presently 0.5 days.

Several equities research analysts recently weighed in on PPDF shares. Morgan Stanley started coverage on PPDAI Group in a report on Tuesday, December 11th. They issued a “weight” rating and a $6.00 price objective for the company. ValuEngine raised PPDAI Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research raised PPDAI Group from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a report on Tuesday, February 12th.

A number of institutional investors and hedge funds have recently made changes to their positions in PPDF. FMR LLC purchased a new stake in PPDAI Group in the 3rd quarter worth about $16,766,000. Wells Fargo & Company MN increased its holdings in PPDAI Group by 13.6% in the 3rd quarter. Wells Fargo & Company MN now owns 7,630,542 shares of the company’s stock worth $41,052,000 after acquiring an additional 915,372 shares during the last quarter. Folger Hill Asset Management LP purchased a new stake in PPDAI Group in the 3rd quarter worth about $2,311,000. Two Sigma Investments LP purchased a new stake in PPDAI Group in the 4th quarter worth about $1,036,000. Finally, Elephas Investment Management Ltd purchased a new stake in PPDAI Group in the 3rd quarter worth about $1,457,000. 7.24% of the stock is owned by institutional investors.

Shares of PPDF opened at $3.91 on Friday. PPDAI Group has a fifty-two week low of $2.85 and a fifty-two week high of $8.56. The stock has a market capitalization of $1.18 billion, a P/E ratio of -1.99 and a beta of 1.32.

PPDAI Group (NYSE:PPDF) last announced its quarterly earnings data on Tuesday, November 20th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($1.00). PPDAI Group had a return on equity of 25.97% and a net margin of 29.39%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $865.25 million. During the same period last year, the business posted ($2.10) EPS. The company’s revenue was down 13.1% compared to the same quarter last year. As a group, analysts forecast that PPDAI Group will post 1.04 earnings per share for the current year.

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About PPDAI Group

PPDAI Group Inc, an investment holding company, operates an online consumer finance marketplace through its platform in the People's Republic of China. It provides services to match borrowers with investors and facilitate loan transactions on its marketplace through the lifecycle of loans. The company offers standard and other loan products; and investment services to investors.

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