FinVolution Group (NYSE:FINV) Sees Large Increase in Short Interest

FinVolution Group (NYSE:FINV) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 1,640,000 shares, a growth of 8.6% from the August 31st total of 1,510,000 shares. Based on an average daily volume of 583,900 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.1% of the shares of the stock are short sold.

FinVolution Group Price Performance

FinVolution Group stock traded up $0.19 during mid-day trading on Tuesday, reaching $6.37. The company had a trading volume of 1,902,058 shares, compared to its average volume of 701,208. The stock’s 50-day simple moving average is $5.46 and its 200-day simple moving average is $5.10. The company has a market capitalization of $1.69 billion, a P/E ratio of 5.84 and a beta of 0.43. FinVolution Group has a 1 year low of $4.22 and a 1 year high of $6.45.

FinVolution Group (NYSE:FINV) last released its quarterly earnings results on Tuesday, August 20th. The company reported $0.30 EPS for the quarter. FinVolution Group had a net margin of 17.00% and a return on equity of 16.57%. The business had revenue of $435.93 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FINV. Acadian Asset Management LLC lifted its holdings in shares of FinVolution Group by 12.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,861,280 shares of the company’s stock worth $13,634,000 after acquiring an additional 317,682 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of FinVolution Group by 16.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,242,306 shares of the company’s stock valued at $10,689,000 after buying an additional 315,366 shares in the last quarter. Russell Investments Group Ltd. grew its position in FinVolution Group by 155.9% in the first quarter. Russell Investments Group Ltd. now owns 503,756 shares of the company’s stock valued at $2,539,000 after acquiring an additional 306,903 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in FinVolution Group by 54.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 713,690 shares of the company’s stock worth $3,597,000 after buying an additional 250,967 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in FinVolution Group in the second quarter valued at about $1,039,000. 31.15% of the stock is currently owned by hedge funds and other institutional investors.

About FinVolution Group

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.