FinVolution Group (NYSE:FINV) Hits New 1-Year High – Here’s What Happened

FinVolution Group (NYSE:FINV) reached a new 52-week high on Thursday . The stock traded as high as $7.98 and last traded at $8.02, with a volume of 26548 shares trading hands. The stock had previously closed at $7.80.

FinVolution Group Stock Up 2.5 %

The company has a market cap of $2.12 billion, a price-to-earnings ratio of 6.89 and a beta of 0.49. The business has a 50-day simple moving average of $7.03 and a two-hundred day simple moving average of $6.21.

Institutional Investors Weigh In On FinVolution Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SVB Wealth LLC bought a new stake in FinVolution Group during the 4th quarter valued at approximately $96,000. QRG Capital Management Inc. lifted its holdings in shares of FinVolution Group by 11.4% during the fourth quarter. QRG Capital Management Inc. now owns 72,319 shares of the company’s stock worth $491,000 after buying an additional 7,374 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of FinVolution Group in the fourth quarter valued at approximately $131,000. Sanctuary Advisors LLC acquired a new stake in shares of FinVolution Group in the fourth quarter worth $976,000. Finally, Lester Murray Antman dba SimplyRich grew its stake in shares of FinVolution Group by 8.0% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 45,307 shares of the company’s stock worth $307,000 after acquiring an additional 3,348 shares during the last quarter. 31.15% of the stock is currently 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.