PPDAI Group (PPDF) Shares Down 4.3%
Shares of PPDAI Group Inc – (NYSE:PPDF) traded down 4.3% on Thursday . The stock traded as low as $4.70 and last traded at $4.92. 997,098 shares traded hands during mid-day trading, an increase of 12% from the average session volume of 887,427 shares. The stock had previously closed at $5.14.
Several analysts recently weighed in on the company. ValuEngine downgraded PPDAI Group from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Zacks Investment Research upgraded PPDAI Group from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a report on Tuesday, February 12th. Finally, Morgan Stanley assumed coverage on PPDAI Group in a report on Tuesday, December 11th. They issued a “weight” rating and a $6.00 price objective for the company.
A number of institutional investors have recently made changes to their positions in the business. Bank of Montreal Can raised its holdings in PPDAI Group by 13.9% in the fourth quarter. Bank of Montreal Can now owns 29,962 shares of the company’s stock worth $108,000 after purchasing an additional 3,662 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of PPDAI Group during the third quarter worth about $35,000. Engineers Gate Manager LP purchased a new stake in shares of PPDAI Group during the third quarter worth about $107,000. BlackRock Inc. grew its stake in shares of PPDAI Group by 37.8% during the third quarter. BlackRock Inc. now owns 74,125 shares of the company’s stock worth $399,000 after acquiring an additional 20,344 shares during the last quarter. Finally, BP PLC grew its stake in shares of PPDAI Group by 43.4% during the third quarter. BP PLC now owns 112,364 shares of the company’s stock worth $605,000 after acquiring an additional 34,006 shares during the last quarter. Institutional investors and hedge funds own 7.37% of the company’s stock.
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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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