FinVolution Group (NYSE:FINV) Shares Gap Up – Should You Buy?

FinVolution Group (NYSE:FINV)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $6.03, but opened at $6.26. FinVolution Group shares last traded at $6.32, with a volume of 64,830 shares traded.

FinVolution Group Stock Up 1.1 %

The business has a 50-day moving average price of $6.02 and a two-hundred day moving average price of $5.40. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 5.43 and a beta of 0.45.

FinVolution Group (NYSE:FINV) last issued its earnings results on Tuesday, August 20th. The company reported $0.30 earnings per share for the quarter. FinVolution Group had a return on equity of 17.03% and a net margin of 17.36%. The company had revenue of $435.93 million for the quarter.

Institutional Investors Weigh In On FinVolution Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its position in FinVolution Group by 155.9% in the 1st quarter. Russell Investments Group Ltd. now owns 503,756 shares of the company’s stock valued at $2,539,000 after buying an additional 306,903 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of FinVolution Group by 54.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 713,690 shares of the company’s stock valued at $3,597,000 after purchasing an additional 250,967 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of FinVolution Group during the 2nd quarter valued at $1,039,000. Caprock Group LLC purchased a new stake in shares of FinVolution Group during the 2nd quarter valued at $479,000. Finally, SG Americas Securities LLC purchased a new stake in shares of FinVolution Group during the 2nd quarter valued at $472,000. 31.15% of the stock is owned by hedge funds and other institutional investors.

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.