FinVolution Group (NYSE:FINV) Shares Gap Down – Should You Sell?

FinVolution Group (NYSE:FINV) gapped down before the market opened on Thursday . The stock had previously closed at $10.61, but opened at $9.70. FinVolution Group shares last traded at $10.11, with a volume of 380,400 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on FINV. UBS Group reiterated a “neutral” rating and issued a $11.80 target price (up previously from $7.80) on shares of FinVolution Group in a research report on Thursday. Citigroup upgraded FinVolution Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $6.00 to $11.00 in a research report on Tuesday.

FinVolution Group Trading Down 6.3 %

The company has a market cap of $2.64 billion, a price-to-earnings ratio of 8.58 and a beta of 0.47. The firm has a 50-day moving average price of $8.03 and a 200 day moving average price of $6.86.

FinVolution Group (NYSE:FINV) last released its quarterly earnings data on Monday, March 17th. The company reported $0.38 earnings per share (EPS) for the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%. The business had revenue of $473.57 million during the quarter.

FinVolution Group Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a yield of 2%. This is a positive change from FinVolution Group’s previous annual dividend of $0.24. FinVolution Group’s payout ratio is currently 16.80%.

FinVolution Group declared that its board has initiated a share buyback plan on Monday, March 17th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in FinVolution Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company’s stock valued at $35,649,000 after purchasing an additional 41,759 shares during the period. State Street Corp boosted its position in FinVolution Group by 8.3% during the 3rd quarter. State Street Corp now owns 3,496,614 shares of the company’s stock valued at $21,609,000 after purchasing an additional 268,843 shares during the period. Bank of America Corp DE boosted its position in FinVolution Group by 2.8% during the 4th quarter. Bank of America Corp DE now owns 3,162,853 shares of the company’s stock valued at $21,476,000 after purchasing an additional 84,863 shares during the period. Man Group plc raised its stake in FinVolution Group by 3.4% during the 4th 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. Finally, Dimensional Fund Advisors LP raised its stake in FinVolution Group by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,329,814 shares of the company’s stock valued at $15,820,000 after acquiring an additional 19,984 shares in the last quarter. Institutional investors and hedge funds own 31.15% of the company’s stock.

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.