FinVolution Group (NYSE:FINV) Shares Gap Down – What’s Next?

FinVolution Group (NYSE:FINV)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $10.61, but opened at $9.70. FinVolution Group shares last traded at $10.11, with a volume of 380,400 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Citigroup raised shares of FinVolution Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $6.00 to $11.00 in a report on Tuesday. UBS Group reissued a “neutral” rating and set a $11.80 price target (up from $7.80) on shares of FinVolution Group in a report on Thursday.

FinVolution Group Stock Up 0.4 %

The stock has a market capitalization of $2.66 billion, a PE ratio of 8.64 and a beta of 0.47. The firm’s fifty day moving average is $8.16 and its 200-day moving average is $6.92.

FinVolution Group (NYSE:FINV) last posted its quarterly earnings results on Monday, March 17th. The company reported $0.38 earnings per share (EPS) for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%. The firm had revenue of $473.57 million during the quarter.

FinVolution Group Increases Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 16th will be given a dividend of $0.277 per share. This is a positive change from FinVolution Group’s previous annual dividend of $0.24. This represents a yield of 2%. The ex-dividend date is Wednesday, April 16th. FinVolution Group’s dividend payout ratio is presently 16.80%.

FinVolution Group declared that its Board of Directors has authorized a stock repurchase program on Monday, March 17th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ascent Group LLC grew its position in FinVolution Group by 55.6% during the fourth quarter. Ascent Group LLC now owns 25,866 shares of the company’s stock worth $176,000 after buying an additional 9,239 shares during the period. Mackenzie Financial Corp acquired a new position in FinVolution Group during the fourth quarter worth about $3,342,000. Public Employees Retirement System of Ohio grew its position in shares of FinVolution Group by 13.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 224,096 shares of the company’s stock valued at $1,522,000 after purchasing an additional 26,104 shares during the last quarter. Vise Technologies Inc. grew its position in shares of FinVolution Group by 77.8% in the fourth quarter. Vise Technologies Inc. now owns 43,986 shares of the company’s stock valued at $299,000 after purchasing an additional 19,247 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of FinVolution Group by 6.7% in the fourth quarter. Two Sigma Advisers LP now owns 410,300 shares of the company’s stock valued at $2,786,000 after purchasing an additional 25,700 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.