FinVolution Group (NYSE:FINV – Get Free Report) released its quarterly earnings data on Monday. The company reported $0.38 earnings per share for the quarter, Zacks reports. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%.
FinVolution Group Trading Up 5.2 %
NYSE FINV opened at $9.17 on Tuesday. FinVolution Group has a 1-year low of $4.45 and a 1-year high of $10.56. The stock’s 50 day moving average is $7.87 and its two-hundred day moving average is $6.80. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 7.90 and a beta of 0.47.
FinVolution Group announced that its board has authorized a share repurchase plan on Monday, March 17th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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.
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