UBS Group Reiterates Neutral Rating for FinVolution Group (NYSE:FINV)

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, MarketBeat reports. They currently have a $11.80 price objective on the stock, up from their prior price objective of $7.80. UBS Group’s price objective points to a potential upside of 17.69% from the stock’s current price.

Separately, Citigroup upgraded FinVolution Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $6.00 to $11.00 in a report on Tuesday.

FinVolution Group Stock Up 0.4 %

FINV opened at $10.03 on Thursday. The stock has a fifty day moving average of $8.16 and a 200-day moving average of $6.92. The firm has a market capitalization of $2.66 billion, a P/E ratio of 8.64 and a beta of 0.47. FinVolution Group has a 12-month low of $4.63 and a 12-month high of $11.08.

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

FinVolution Group announced that its Board of Directors has initiated a stock buyback program on Monday, March 17th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On FinVolution Group

Several hedge funds have recently bought and sold shares of FINV. GSA Capital Partners LLP acquired a new position in FinVolution Group during the third quarter worth $261,000. Caprock Group LLC increased its position in FinVolution Group by 27.1% during the third quarter. Caprock Group LLC now owns 127,590 shares of the company’s stock worth $789,000 after buying an additional 27,183 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in FinVolution Group during the third quarter worth $434,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in FinVolution Group by 51.9% during the third 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 buying an additional 169,344 shares during the last quarter. Finally, Walleye Capital LLC increased its position in FinVolution Group by 134.4% during the third quarter. Walleye Capital LLC now owns 476,294 shares of the company’s stock worth $2,943,000 after buying an additional 273,055 shares during the last quarter. 31.15% of the stock is owned by institutional investors and hedge funds.

FinVolution Group Company Profile

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.