PPDAI Group’s (FINV) Neutral Rating Reiterated at Citigroup

Citigroup reaffirmed their neutral rating on shares of PPDAI Group (NYSE:FINV) in a report released on Friday morning, MarketBeat reports. Citigroup currently has a $4.10 target price on the stock, down from their prior target price of $8.10.

Separately, Weiss Ratings cut shares of PPDAI Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, PPDAI Group currently has a consensus rating of “Hold” and a consensus price target of $4.10.

PPDAI Group Price Performance

FINV opened at $3.40 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.36 and a current ratio of 3.36. PPDAI Group has a 52-week low of $3.36 and a 52-week high of $8.40. The stock has a market capitalization of $827.19 million, a PE ratio of 3.21 and a beta of 0.36. The stock’s 50 day moving average price is $4.65 and its 200-day moving average price is $4.96.

Institutional Trading of PPDAI Group

Large investors have recently bought and sold shares of the company. Millennium Management LLC lifted its position in PPDAI Group by 573.9% during the first quarter. Millennium Management LLC now owns 1,050,439 shares of the company’s stock valued at $10,116,000 after buying an additional 894,566 shares during the period. Abacus Wealth Partners LLC purchased a new stake in shares of PPDAI Group in the 4th quarter worth about $221,000. Royal Bank of Canada grew its position in shares of PPDAI Group by 114.5% in the 1st quarter. Royal Bank of Canada now owns 59,266 shares of the company’s stock worth $571,000 after buying an additional 31,641 shares during the period. FourThought Financial Partners LLC bought a new position in shares of PPDAI Group in the 4th quarter worth about $120,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of PPDAI Group by 2.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 475,988 shares of the company’s stock worth $4,584,000 after acquiring an additional 12,000 shares in the last quarter. 31.15% of the stock is owned by institutional investors.

PPDAI Group Company Profile

PPDAI Group Inc operates an online consumer finance marketplace that connects individual and institutional investors with personal and small-business borrowers. Through its digital platform, the company facilitates unsecured consumer loans, auto refinancing loans and small-business financing by leveraging proprietary credit assessment tools and big data analytics. Investors gain exposure to a diversified portfolio of retail credit assets, while borrowers benefit from streamlined application processes and competitive financing rates.

At the core of PPDAI’s offering is a multi-layered risk management framework that combines automated credit scoring, manual underwriting oversight and third-party data verification.