FinVolution Group (NYSE:FINV) Sees Significant Increase in Short Interest

FinVolution Group (NYSE:FINV) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 802,900 shares, a growth of 12.2% from the October 15th total of 715,500 shares. Based on an average trading volume of 869,900 shares, the short-interest ratio is currently 0.9 days.

FinVolution Group Trading Up 2.6 %

Shares of NYSE FINV traded up $0.13 during midday trading on Friday, reaching $5.05. 1,468,366 shares of the company were exchanged, compared to its average volume of 876,362. The stock has a market cap of $1.43 billion, a P/E ratio of 4.24 and a beta of 0.74. FinVolution Group has a 1 year low of $3.55 and a 1 year high of $6.05. The stock has a fifty day simple moving average of $4.90 and a 200 day simple moving average of $4.82.

FinVolution Group (NYSE:FINV) last posted its quarterly earnings data on Monday, August 28th. The company reported $0.28 earnings per share for the quarter. The company had revenue of $424.16 million during the quarter. FinVolution Group had a return on equity of 19.92% and a net margin of 19.79%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in FinVolution Group by 0.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,149,928 shares of the company’s stock worth $51,290,000 after purchasing an additional 35,200 shares during the period. Causeway Capital Management LLC raised its position in FinVolution Group by 8.5% in the first quarter. Causeway Capital Management LLC now owns 8,973,876 shares of the company’s stock worth $37,421,000 after acquiring an additional 703,854 shares in the last quarter. Vanguard Group Inc. lifted its holdings in FinVolution Group by 2.1% in the third quarter. Vanguard Group Inc. now owns 5,825,531 shares of the company’s stock valued at $24,933,000 after acquiring an additional 119,258 shares during the period. BlackRock Inc. boosted its position in shares of FinVolution Group by 1.3% during the 2nd quarter. BlackRock Inc. now owns 2,906,068 shares of the company’s stock worth $13,368,000 after purchasing an additional 37,296 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of FinVolution Group by 5.2% during the 1st quarter. Bank of America Corp DE now owns 2,595,531 shares of the company’s stock worth $10,823,000 after purchasing an additional 128,464 shares during the period. 31.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Daiwa Capital Markets began coverage on shares of FinVolution Group in a research report on Tuesday, July 25th. They issued a “buy” rating and a $6.70 price target for the company.

FinVolution Group Company Profile

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by proprietary technologies connects underserved 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.