FinVolution Group (NYSE:FINV) Releases Earnings Results

FinVolution Group (NYSE:FINV) posted its quarterly earnings data on Monday. The company reported $0.38 earnings per share for the quarter, Zacks reports. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%.

FinVolution Group Price Performance

FINV stock opened at $9.17 on Tuesday. The company has a 50 day moving average price of $7.87 and a 200 day moving average price of $6.80. The stock has a market capitalization of $2.43 billion, a PE ratio of 7.90 and a beta of 0.47. FinVolution Group has a fifty-two week low of $4.45 and a fifty-two week high of $10.56.

FinVolution Group declared that its board has authorized a stock repurchase program on Monday, March 17th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.