Folger Hill Asset Management LP Takes $2.31 Million Position in PPDAI Group Inc – (PPDF)
Folger Hill Asset Management LP purchased a new stake in shares of PPDAI Group Inc – (NYSE:PPDF) in the third quarter, according to its most recent filing with the SEC. The firm purchased 429,500 shares of the company’s stock, valued at approximately $2,311,000. PPDAI Group accounts for about 14.0% of Folger Hill Asset Management LP’s portfolio, making the stock its 2nd largest position. Folger Hill Asset Management LP owned about 0.14% of PPDAI Group at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Trexquant Investment LP acquired a new stake in shares of PPDAI Group during the 2nd quarter valued at approximately $116,000. Engineers Gate Manager LP acquired a new stake in shares of PPDAI Group during the 3rd quarter valued at approximately $107,000. PEAK6 Investments L.P. acquired a new stake in shares of PPDAI Group during the 2nd quarter valued at approximately $146,000. Bank of Montreal Can acquired a new stake in shares of PPDAI Group during the 3rd quarter valued at approximately $141,000. Finally, Millennium Management LLC increased its stake in shares of PPDAI Group by 42.3% during the 1st quarter. Millennium Management LLC now owns 28,388 shares of the company’s stock worth $211,000 after purchasing an additional 8,438 shares in the last quarter. Institutional investors own 7.21% of the company’s stock.
Shares of PPDF opened at $5.05 on Thursday. PPDAI Group Inc – has a 1-year low of $3.82 and a 1-year high of $8.72.
Separately, Deutsche Bank cut shares of PPDAI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 10th.
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PPDAI Group Company Profile
PPDAI Group Inc, an investment holding company, operates an online consumer finance marketplace through its platform in the People's Republic of China. It provides services to match borrowers with investors and facilitate loan transactions on its marketplace through the lifecycle of loans. The company offers standard and other loan products; and investment services to investors.
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