PPDAI Group (NYSE:FINV) Trading Up 10% – Here’s What Happened

PPDAI Group Inc. Sponsored ADR (NYSE:FINV)’s share price shot up 10% during mid-day trading on Wednesday . The company traded as high as $5.42 and last traded at $5.4450. 342,278 shares traded hands during trading, a decline of 71% from the average session volume of 1,187,955 shares. The stock had previously closed at $4.95.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of PPDAI Group in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, PPDAI Group has an average rating of “Hold”.

PPDAI Group Trading Up 13.2%

The stock has a 50 day simple moving average of $4.99 and a 200-day simple moving average of $5.22. The firm has a market capitalization of $1.36 billion, a P/E ratio of 4.21 and a beta of 0.32. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 0.07.

PPDAI Group (NYSE:FINV) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $432.21 million during the quarter. PPDAI Group had a return on equity of 16.39% and a net margin of 18.70%.

PPDAI Group Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, May 7th. Stockholders of record on Thursday, April 16th were given a dividend of $0.306 per share. This represents a dividend yield of 637.0%. The ex-dividend date of this dividend was Thursday, April 16th. This is an increase from PPDAI Group’s previous annual dividend of $0.28. PPDAI Group’s payout ratio is presently 15.67%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FINV. Millennium Management LLC lifted its position in shares of PPDAI Group by 573.9% during the 1st quarter. Millennium Management LLC now owns 1,050,439 shares of the company’s stock valued at $10,116,000 after buying an additional 894,566 shares in the last quarter. Abacus Wealth Partners LLC purchased a new position in shares of PPDAI Group during the 4th quarter valued at about $221,000. Royal Bank of Canada lifted its position in shares of PPDAI Group by 114.5% during the 1st quarter. Royal Bank of Canada now owns 59,266 shares of the company’s stock valued at $571,000 after buying an additional 31,641 shares in the last quarter. FourThought Financial Partners LLC purchased a new position in shares of PPDAI Group during the 4th quarter valued at about $120,000. Finally, SG Americas Securities LLC lifted its position in shares of PPDAI Group by 110.4% during the 4th quarter. SG Americas Securities LLC now owns 26,404 shares of the company’s stock valued at $138,000 after buying an additional 13,855 shares in the last quarter. 31.15% of the stock is owned by hedge funds and other institutional investors.

PPDAI Group Company Profile

PPDAI Group Inc operates an online consumer finance marketplace that connects individual and institutional investors with personal and small-business borrowers. Through its digital platform, the company facilitates unsecured consumer loans, auto refinancing loans and small-business financing by leveraging proprietary credit assessment tools and big data analytics. Investors gain exposure to a diversified portfolio of retail credit assets, while borrowers benefit from streamlined application processes and competitive financing rates.

At the core of PPDAI’s offering is a multi-layered risk management framework that combines automated credit scoring, manual underwriting oversight and third-party data verification.