FinVolution Group (NYSE:FINV) Hits New 12-Month High – Time to Buy?

FinVolution Group (NYSE:FINV) reached a new 52-week high on Tuesday . The stock traded as high as $7.70 and last traded at $7.58, with a volume of 497764 shares changing hands. The stock had previously closed at $7.66.

FinVolution Group Stock Performance

The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 6.53 and a beta of 0.50. The firm has a 50-day simple moving average of $6.80 and a two-hundred day simple moving average of $6.07.

Hedge Funds Weigh In On FinVolution Group

Institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in FinVolution Group by 51.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 495,788 shares of the company’s stock valued at $3,064,000 after acquiring an additional 169,344 shares in the last quarter. Jane Street Group LLC grew its position in shares of FinVolution Group by 229.4% during the third quarter. Jane Street Group LLC now owns 185,420 shares of the company’s stock worth $1,146,000 after buying an additional 129,138 shares in the last quarter. Geode Capital Management LLC grew its position in shares of FinVolution Group by 4.4% during the third quarter. Geode Capital Management LLC now owns 74,723 shares of the company’s stock worth $462,000 after buying an additional 3,164 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of FinVolution Group by 16.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,242,306 shares of the company’s stock worth $10,689,000 after buying an additional 315,366 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of FinVolution Group during the third quarter worth about $1,224,000. 31.15% of the stock is owned by institutional investors and hedge funds.

FinVolution Group Company Profile

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.