National Bank of Canada FI Invests $1.65 Million in PPDAI Group Inc. Sponsored ADR (NYSE:FINV)

National Bank of Canada FI purchased a new position in shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 171,141 shares of the company’s stock, valued at approximately $1,648,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE increased its position in PPDAI Group by 2.8% during the 4th quarter. Bank of America Corp DE now owns 3,162,853 shares of the company’s stock worth $21,476,000 after buying an additional 84,863 shares during the period. Man Group plc grew its stake in shares of PPDAI Group by 3.4% in the fourth quarter. Man Group plc now owns 2,616,814 shares of the company’s stock valued at $17,768,000 after acquiring an additional 86,411 shares in the last quarter. Dimensional Fund Advisors LP increased its position in PPDAI Group by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,329,814 shares of the company’s stock worth $15,820,000 after acquiring an additional 19,984 shares during the period. Ativo Capital Management LLC bought a new position in PPDAI Group during the first quarter worth about $7,113,000. Finally, Wellington Management Group LLP raised its stake in PPDAI Group by 18.1% in the 4th quarter. Wellington Management Group LLP now owns 529,118 shares of the company’s stock worth $3,593,000 after purchasing an additional 81,187 shares in the last quarter. 31.15% of the stock is currently owned by institutional investors.

PPDAI Group Stock Performance

NYSE:FINV opened at $9.34 on Friday. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 6.82 and a beta of 0.35. PPDAI Group Inc. Sponsored ADR has a fifty-two week low of $5.14 and a fifty-two week high of $11.08. The stock has a fifty day moving average price of $9.36 and a 200-day moving average price of $8.77.

PPDAI Group (NYSE:FINV) last posted its quarterly earnings data on Tuesday, May 20th. The company reported $0.41 earnings per share for the quarter. The business had revenue of $479.70 million during the quarter. PPDAI Group had a net margin of 19.44% and a return on equity of 18.15%.

Analyst Upgrades and Downgrades

Separately, UBS Group upgraded shares of PPDAI Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $11.80 to $12.10 in a research report on Friday, May 23rd.

About PPDAI 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.