FinVolution Group (NYSE:FINV) Short Interest Update

FinVolution Group (NYSE:FINV) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 2,350,000 shares, a decline of 12.6% from the February 28th total of 2,690,000 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily volume of 899,800 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Investors Weigh In On FinVolution Group

Several hedge funds have recently modified their holdings of FINV. Mirae Asset Global Investments Co. Ltd. acquired a new position in FinVolution Group in the 4th quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in FinVolution Group in the 3rd quarter valued at approximately $58,000. Aigen Investment Management LP purchased a new stake in shares of FinVolution Group in the 4th quarter valued at $75,000. NewEdge Advisors LLC lifted its stake in FinVolution Group by 381.1% during the 4th quarter. NewEdge Advisors LLC now owns 12,624 shares of the company’s stock worth $86,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in FinVolution Group during the 4th quarter valued at about $90,000. 31.15% of the stock is owned by hedge funds and other institutional investors.

FinVolution Group Stock Down 3.2 %

Shares of FINV traded down $0.32 during mid-day trading on Thursday, reaching $9.65. The company had a trading volume of 239,978 shares, compared to its average volume of 741,456. The stock has a market capitalization of $2.56 billion, a P/E ratio of 8.32 and a beta of 0.47. FinVolution Group has a 52-week low of $4.63 and a 52-week high of $11.08. The stock has a 50 day moving average of $8.62 and a two-hundred day moving average of $7.19.

FinVolution Group (NYSE:FINV) last announced its quarterly 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 declared that its Board of Directors has authorized a share repurchase program on Monday, March 17th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

FinVolution Group Increases Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th will be given a dividend of $0.277 per share. This represents a yield of 2%. The ex-dividend date of this dividend is Wednesday, April 16th. This is a positive change from FinVolution Group’s previous annual dividend of $0.24. FinVolution Group’s dividend payout ratio (DPR) is currently 16.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FINV shares. UBS Group reissued a “neutral” rating and set a $11.80 price target (up from $7.80) on shares of FinVolution Group in a research report on Thursday, March 20th. Citigroup raised shares of FinVolution Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $6.00 to $11.00 in a report on Tuesday, March 18th.

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.