PPDAI Group (NYSE:FINV) Shares Up 6.5% – Here’s What Happened

Shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV) were up 6.5% during trading on Tuesday . The company traded as high as $5.83 and last traded at $5.8490. Approximately 1,007,252 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 1,045,501 shares. The stock had previously closed at $5.49.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen cut shares of PPDAI Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of PPDAI Group in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, PPDAI Group presently has an average rating of “Moderate Buy” and an average price target of $11.55.

PPDAI Group Stock Up 10.1%

The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.53 billion, a P/E ratio of 4.11 and a beta of 0.29. The stock’s 50 day simple moving average is $5.34 and its 200 day simple moving average is $5.97.

PPDAI Group (NYSE:FINV) last released its earnings results on Monday, March 16th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.06). The company had revenue of $432.29 million during the quarter, compared to the consensus estimate of $514.80 million. PPDAI Group had a return on equity of 18.33% and a net margin of 19.98%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC increased its holdings in shares of PPDAI Group by 573.9% in the 1st quarter. Millennium Management LLC now owns 1,050,439 shares of the company’s stock valued at $10,116,000 after acquiring an additional 894,566 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in PPDAI Group by 7.0% in the second quarter. Russell Investments Group Ltd. now owns 510,777 shares of the company’s stock worth $4,869,000 after purchasing an additional 33,207 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in PPDAI Group by 2.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 475,988 shares of the company’s stock valued at $4,584,000 after purchasing an additional 12,000 shares during the last quarter. SG Americas Securities LLC increased its stake in PPDAI Group by 246.7% during the second quarter. SG Americas Securities LLC now owns 103,163 shares of the company’s stock valued at $978,000 after purchasing an additional 73,410 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of PPDAI Group by 114.5% during the first quarter. Royal Bank of Canada now owns 59,266 shares of the company’s stock worth $571,000 after purchasing an additional 31,641 shares during the period. Institutional investors and hedge funds own 31.15% of the company’s stock.

PPDAI Group Company Profile

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.