Short Interest in FinVolution Group (NYSE:FINV) Declines By 14.6%

FinVolution Group (NYSE:FINV) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 1,340,000 shares, a decline of 14.6% from the March 15th total of 1,570,000 shares. Based on an average trading volume of 828,700 shares, the days-to-cover ratio is currently 1.6 days.

Analyst Ratings Changes

Separately, Nomura began coverage on FinVolution Group in a report on Monday, December 18th. They issued a “buy” rating on the stock.

FinVolution Group Stock Down 3.2 %

Shares of NYSE FINV opened at $4.84 on Tuesday. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 4.14 and a beta of 0.52. The stock’s fifty day simple moving average is $5.06 and its 200 day simple moving average is $4.86. FinVolution Group has a 52-week low of $3.63 and a 52-week high of $6.05.

FinVolution Group (NYSE:FINV) last issued its earnings results on Monday, March 18th. The company reported $0.29 earnings per share (EPS) for the quarter. The business had revenue of $454.03 million for the quarter. FinVolution Group had a return on equity of 18.53% and a net margin of 18.70%.

FinVolution Group Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Tuesday, April 16th will be issued a dividend of $0.237 per share. This is an increase from FinVolution Group’s previous annual dividend of $0.22. The ex-dividend date is Monday, April 15th. This represents a dividend yield of 4.88%. FinVolution Group’s payout ratio is currently 16.24%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. DGS Capital Management LLC grew its holdings in shares of FinVolution Group by 14.3% during the first quarter. DGS Capital Management LLC now owns 245,588 shares of the company’s stock valued at $1,238,000 after buying an additional 30,753 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of FinVolution Group by 62.7% during the first quarter. Ballentine Partners LLC now owns 18,481 shares of the company’s stock valued at $93,000 after buying an additional 7,123 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of FinVolution Group by 134.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,176,517 shares of the company’s stock valued at $10,665,000 after buying an additional 1,246,918 shares in the last quarter. FIL Ltd purchased a new position in shares of FinVolution Group during the fourth quarter valued at $305,000. Finally, GSA Capital Partners LLP purchased a new position in shares of FinVolution Group during the fourth quarter valued at $107,000. Hedge funds and other institutional investors own 31.15% of the company’s stock.

About FinVolution Group

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by proprietary technologies connects underserved 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.