FinVolution Group’s (FINV) “Neutral” Rating Reiterated at UBS Group

FinVolution Group (NYSE:FINV)‘s stock had its “neutral” rating reiterated by equities researchers at UBS Group in a research note issued to investors on Thursday. They presently have a $11.80 price objective on the stock, up from their prior price objective of $7.80. UBS Group’s target price indicates a potential upside of 17.09% from the company’s current price.

Separately, Citigroup raised shares of FinVolution Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $6.00 to $11.00 in a research note on Tuesday.

FinVolution Group Price Performance

Shares of FINV stock traded down $0.53 during trading hours on Thursday, hitting $10.08. The stock had a trading volume of 380,400 shares, compared to its average volume of 953,266. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 8.68 and a beta of 0.47. FinVolution Group has a one year low of $4.63 and a one year high of $11.08. The stock’s 50-day moving average price is $8.03 and its two-hundred day moving average price is $6.86.

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

FinVolution Group declared that its Board of Directors has approved a share buyback program on Monday, March 17th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of FinVolution Group

Several hedge funds and other institutional investors have recently bought and sold shares of FINV. GSA Capital Partners LLP bought a new position in FinVolution Group during the third quarter valued at $261,000. Caprock Group LLC boosted its stake in shares of FinVolution Group by 27.1% during the 3rd quarter. Caprock Group LLC now owns 127,590 shares of the company’s stock worth $789,000 after purchasing an additional 27,183 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in FinVolution Group during the 3rd quarter valued at about $434,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in FinVolution Group by 51.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 495,788 shares of the company’s stock worth $3,064,000 after purchasing an additional 169,344 shares during the period. Finally, Walleye Capital LLC boosted its position in shares of FinVolution Group by 134.4% during the third quarter. Walleye Capital LLC now owns 476,294 shares of the company’s stock valued at $2,943,000 after buying an additional 273,055 shares during the period. Hedge funds and other institutional investors own 31.15% of the company’s stock.

About FinVolution Group

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.