PPDAI Group (NYSE:FINV) Stock Price Down 6.3% – Should You Sell?

PPDAI Group Inc. Sponsored ADR (NYSE:FINV)’s share price was down 6.3% during mid-day trading on Thursday . The stock traded as low as $4.01 and last traded at $3.9450. 923,965 shares were traded during trading, a decline of 6% from the average daily volume of 980,606 shares. The stock had previously closed at $4.21.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FINV shares. Citigroup reaffirmed a “neutral” rating and issued a $4.10 target price (down from $8.10) on shares of PPDAI Group in a report on Friday. Weiss Ratings cut PPDAI Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.10.

PPDAI Group Price Performance

The company has a market cap of $827.19 million, a price-to-earnings ratio of 3.21 and a beta of 0.36. The company’s 50 day moving average price is $4.65 and its 200 day moving average price is $4.97. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.07.

Hedge Funds Weigh In On PPDAI Group

A number of large investors have recently made changes to their positions in FINV. Royal Bank of Canada grew its position in 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 buying an additional 31,641 shares during the period. Millennium Management LLC lifted its position in shares of PPDAI Group by 573.9% during 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of PPDAI Group by 2.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 475,988 shares of the company’s stock worth $4,584,000 after acquiring an additional 12,000 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of PPDAI Group by 57.7% during the 4th quarter. Farther Finance Advisors LLC now owns 5,695 shares of the company’s stock worth $30,000 after acquiring an additional 2,083 shares in the last quarter. Finally, Abacus Wealth Partners LLC acquired a new stake in shares of PPDAI Group in the 4th quarter worth approximately $221,000. 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.