FinVolution Group (NYSE:FINV) Shares Gap Up – Should You Buy?

FinVolution Group (NYSE:FINV) shares gapped up before the market opened on Tuesday . The stock had previously closed at $6.03, but opened at $6.26. FinVolution Group shares last traded at $6.32, with a volume of 64,830 shares changing hands.

FinVolution Group Stock Performance

The stock has a market cap of $1.67 billion, a P/E ratio of 5.43 and a beta of 0.45. The stock has a 50-day moving average price of $6.02 and a 200-day moving average price of $5.40.

FinVolution Group (NYSE:FINV) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.30 earnings per share (EPS) for the quarter. The firm had revenue of $435.93 million during the quarter. FinVolution Group had a return on equity of 17.03% and a net margin of 17.36%.

Institutional Trading of FinVolution Group

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC raised its holdings in shares of FinVolution Group by 12.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,861,280 shares of the company’s stock valued at $13,634,000 after buying an additional 317,682 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FinVolution Group by 16.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,306 shares of the company’s stock valued at $10,689,000 after buying an additional 315,366 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of FinVolution Group by 155.9% during the 1st quarter. Russell Investments Group Ltd. now owns 503,756 shares of the company’s stock valued at $2,539,000 after buying an additional 306,903 shares in the last quarter. Walleye Capital LLC raised its holdings in shares of FinVolution Group by 134.4% during the 3rd 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 in the last quarter. Finally, State Street Corp raised its holdings in shares of FinVolution Group by 8.3% during the 3rd quarter. State Street Corp now owns 3,496,614 shares of the company’s stock valued at $21,609,000 after buying an additional 268,843 shares in the last quarter. 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.