Millennium Management LLC Has $4.64 Million Stock Holdings in FinVolution Group (NYSE:FINV)

Millennium Management LLC grew its holdings in FinVolution Group (NYSE:FINV) by 74.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 487,839 shares of the company’s stock after buying an additional 208,076 shares during the quarter. Millennium Management LLC owned 0.17% of FinVolution Group worth $4,644,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Paloma Partners Management Co raised its stake in shares of FinVolution Group by 6.3% in the 1st quarter. Paloma Partners Management Co now owns 31,278 shares of the company’s stock valued at $219,000 after buying an additional 1,840 shares in the last quarter. American Century Companies Inc. raised its stake in shares of FinVolution Group by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 55,753 shares of the company’s stock valued at $531,000 after buying an additional 3,189 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of FinVolution Group in the 2nd quarter worth about $47,000. Virtu Financial LLC grew its holdings in shares of FinVolution Group by 15.3% in the 1st quarter. Virtu Financial LLC now owns 45,463 shares of the company’s stock worth $319,000 after purchasing an additional 6,048 shares during the last quarter. Finally, Jasper Ridge Partners L.P. bought a new stake in shares of FinVolution Group in the 2nd quarter worth about $154,000. Institutional investors own 56.55% of the company’s stock.

Shares of NYSE:FINV opened at $6.10 on Thursday. FinVolution Group has a 12 month low of $2.03 and a 12 month high of $10.61. The stock’s 50-day moving average is $6.02. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 4.96 and a beta of 1.03.

FinVolution Group (NYSE:FINV) last issued its quarterly earnings data on Monday, August 23rd. The company reported $0.34 EPS for the quarter. FinVolution Group had a net margin of 26.44% and a return on equity of 27.01%. The firm had revenue of $369.25 million for the quarter.

Several equities research analysts have recently weighed in on the stock. China Renaissance Securities assumed coverage on shares of FinVolution Group in a report on Tuesday, September 21st. They issued a “buy” rating and a $9.20 target price on the stock. Rowe assumed coverage on shares of FinVolution Group in a report on Tuesday, September 21st. They issued a “buy” rating and a $9.20 target price on the stock. Finally, Citigroup upped their target price on shares of FinVolution Group from $6.07 to $7.27 and gave the stock a “neutral” rating in a report on Friday, November 19th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, FinVolution Group has a consensus rating of “Buy” and a consensus price target of $8.17.

FinVolution Group Company Profile

FinVolution Group is an online consumer finance platform in China connecting underserved individual borrowers with financial institutions. The firm has developed technologies and accumulates in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence.

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Institutional Ownership by Quarter for FinVolution Group (NYSE:FINV)

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