Quantbot Technologies LP Invests $62,000 in PPDAI Group Inc. Sponsored ADR $FINV

Quantbot Technologies LP bought a new position in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV) in the first quarter, Holdings Channel.com reports. The fund bought 6,443 shares of the company’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of PPDAI Group by 2.8% during the 4th quarter. Bank of America Corp DE now owns 3,162,853 shares of the company’s stock valued at $21,476,000 after acquiring an additional 84,863 shares during the last quarter. Man Group plc boosted its position in shares of PPDAI Group by 3.4% during the 4th quarter. Man Group plc now owns 2,616,814 shares of the company’s stock valued at $17,768,000 after acquiring an additional 86,411 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of PPDAI Group by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,329,814 shares of the company’s stock valued at $15,820,000 after acquiring an additional 19,984 shares during the last quarter. Prudential PLC boosted its position in shares of PPDAI Group by 146.1% during the 1st quarter. Prudential PLC now owns 1,221,489 shares of the company’s stock valued at $11,763,000 after acquiring an additional 725,149 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in PPDAI Group by 134.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 980,945 shares of the company’s stock valued at $9,446,000 after buying an additional 562,468 shares during the last quarter. Institutional investors and hedge funds own 31.15% of the company’s stock.

Wall Street Analysts Forecast Growth

FINV has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of PPDAI Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 23rd. UBS Group raised shares of PPDAI Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.80 to $12.10 in a research report on Friday, May 23rd. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $11.55.

PPDAI Group Stock Down 1.2%

FINV stock opened at $8.25 on Friday. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 5.57 and a beta of 0.35. PPDAI Group Inc. Sponsored ADR has a fifty-two week low of $5.14 and a fifty-two week high of $11.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 2.89. The company’s 50 day moving average price is $9.32 and its 200 day moving average price is $8.84.

PPDAI Group (NYSE:FINV) last announced its quarterly earnings results on Wednesday, August 20th. The company reported $0.41 EPS for the quarter. The company had revenue of $499.46 million for the quarter. PPDAI Group had a net margin of 20.28% and a return on equity of 18.88%. PPDAI Group has set its FY 2025 guidance at EPS.

About PPDAI 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.