FinVolution Group (NYSE:FINV) Shares Gap Down to $5.70

Shares of FinVolution Group (NYSE:FINV) gapped down prior to trading on Wednesday . The stock had previously closed at $5.70, but opened at $5.56. FinVolution Group shares last traded at $5.57, with a volume of 62,277 shares changing hands.

FinVolution Group Stock Performance

The company has a market cap of $1.49 billion, a price-to-earnings ratio of 5.15 and a beta of 0.44. The company’s 50 day moving average price is $5.10 and its 200 day moving average price is $5.01.

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 return on equity of 16.91% and a net margin of 17.15%. The business had revenue of $435.93 million for the quarter.

Institutional Investors Weigh In On FinVolution Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in shares of FinVolution Group by 155.9% during the first quarter. Russell Investments Group Ltd. now owns 503,756 shares of the company’s stock worth $2,539,000 after buying an additional 306,903 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of FinVolution Group by 54.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 713,690 shares of the company’s stock valued at $3,597,000 after purchasing an additional 250,967 shares during the period. AJOVista LLC bought a new position in shares of FinVolution Group in the 4th quarter worth $647,000. HCEP Management Ltd grew its stake in shares of FinVolution Group by 580.1% during the fourth quarter. HCEP Management Ltd now owns 250,000 shares of the company’s stock worth $1,225,000 after purchasing an additional 213,242 shares during the period. Finally, SG Americas Securities LLC bought a new stake in FinVolution Group in the second quarter valued at about $472,000. 31.15% of the stock is owned by institutional investors and hedge funds.

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.