XTX Topco Ltd Buys 31,779 Shares of PPDAI Group Inc. Sponsored ADR (NYSE:FINV)

XTX Topco Ltd grew its stake in PPDAI Group Inc. Sponsored ADR (NYSE:FINV) by 71.6% in the first quarter, HoldingsChannel reports. The fund owned 76,182 shares of the company’s stock after acquiring an additional 31,779 shares during the period. XTX Topco Ltd’s holdings in PPDAI Group were worth $734,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. bought a new stake in shares of PPDAI Group during the first quarter worth approximately $111,000. IMC Chicago LLC bought a new stake in shares of PPDAI Group during the first quarter worth approximately $394,000. Northern Trust Corp raised its stake in shares of PPDAI Group by 41.4% during the fourth quarter. Northern Trust Corp now owns 296,256 shares of the company’s stock worth $2,012,000 after buying an additional 86,729 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of PPDAI Group by 5.5% during the first quarter. SG Americas Securities LLC now owns 29,753 shares of the company’s stock worth $287,000 after buying an additional 1,554 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of PPDAI Group by 22.9% during the first quarter. Envestnet Asset Management Inc. now owns 239,926 shares of the company’s stock worth $2,310,000 after buying an additional 44,656 shares during the last quarter. 31.15% of the stock is owned by institutional investors.

PPDAI Group Price Performance

FINV opened at $8.31 on Tuesday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 6.07 and a beta of 0.35. The firm has a 50 day simple moving average of $9.30 and a 200 day simple moving average of $8.69. PPDAI Group Inc. Sponsored ADR has a fifty-two week low of $4.97 and a fifty-two week high of $11.08.

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

Analyst Upgrades and Downgrades

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

PPDAI 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.