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

FinVolution Group (NYSE:FINV) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 1,950,000 shares, a growth of 30.0% from the July 15th total of 1,500,000 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 620,000 shares, the days-to-cover ratio is currently 3.1 days.

FinVolution Group Stock Performance

Shares of FINV traded up $0.09 during trading hours on Friday, hitting $5.70. 419,333 shares of the stock were exchanged, compared to its average volume of 694,142. FinVolution Group has a 12-month low of $4.22 and a 12-month high of $5.70. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 5.23 and a beta of 0.44. The stock’s 50-day moving average price is $5.05 and its two-hundred day moving average price is $5.00.

FinVolution Group (NYSE:FINV) last issued its quarterly earnings results on Wednesday, May 15th. The company reported $0.29 EPS for the quarter. The firm had revenue of $438.36 million during the quarter. FinVolution Group had a return on equity of 16.91% and a net margin of 17.15%.

Hedge Funds Weigh In On FinVolution Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FINV. SYM FINANCIAL Corp acquired a new position in shares of FinVolution Group in the 2nd quarter valued at $54,000. Vicus Capital acquired a new position in shares of FinVolution Group in the 1st quarter valued at $63,000. SVB Wealth LLC acquired a new position in FinVolution Group during the 1st quarter worth about $80,000. D Orazio & Associates Inc. lifted its stake in FinVolution Group by 40.9% during the 4th quarter. D Orazio & Associates Inc. now owns 18,042 shares of the company’s stock worth $88,000 after acquiring an additional 5,237 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in FinVolution Group by 62.7% during the 1st quarter. Ballentine Partners LLC now owns 18,481 shares of the company’s stock worth $93,000 after acquiring an additional 7,123 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.