FinVolution Group (NYSE:FINV) Shares Down 5.7%

Shares of FinVolution Group (NYSE:FINV) dropped 5.7% during mid-day trading on Thursday . The stock traded as low as $7.42 and last traded at $7.43. Approximately 24,962 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 1,582,970 shares. The stock had previously closed at $7.88.

Separately, TheStreet upgraded FinVolution Group from a “c+” rating to a “b-” rating in a research report on Tuesday.

The firm has a 50 day moving average of $8.34. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 7.30 and a beta of 1.06.

FinVolution Group (NYSE:FINV) last posted its earnings results on Tuesday, May 25th. The company reported $0.31 earnings per share (EPS) for the quarter. FinVolution Group had a return on equity of 26.09% and a net margin of 28.33%. The firm had revenue of $322.49 million for the quarter.

Institutional investors have recently modified their holdings of the business. Boston Private Wealth LLC lifted its stake in shares of FinVolution Group by 36.6% during the 1st quarter. Boston Private Wealth LLC now owns 66,246 shares of the company’s stock worth $465,000 after purchasing an additional 17,742 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of FinVolution Group by 2,883.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 912,959 shares of the company’s stock worth $6,400,000 after buying an additional 882,359 shares during the last quarter. Sei Investments Co. increased its holdings in shares of FinVolution Group by 359.5% during the 1st quarter. Sei Investments Co. now owns 138,167 shares of the company’s stock worth $969,000 after buying an additional 108,101 shares during the last quarter. TB Alternative Assets Ltd. acquired a new stake in shares of FinVolution Group during the 1st quarter worth $2,430,000. Finally, Granite Point Capital Management L.P. acquired a new stake in shares of FinVolution Group during the 1st quarter worth $911,000. 19.75% of the stock is currently owned by institutional investors.

About FinVolution Group (NYSE:FINV)

FinVolution Group is an online consumer finance platform in China connecting underserved individual borrowers with financial institutions. The firm has developed technologies and accumulates in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence.

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