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

FinVolution Group (NYSE:FINV) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 838,900 shares, a decline of 15.4% from the October 15th total of 991,300 shares. Based on an average trading volume of 699,800 shares, the short-interest ratio is presently 1.2 days. Approximately 0.6% of the shares of the company are short sold.

Institutional Inflows and Outflows

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

FinVolution Group Price Performance

Shares of FINV traded up $0.09 during trading hours on Monday, hitting $6.03. The company’s stock had a trading volume of 923,669 shares, compared to its average volume of 698,733. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 5.54 and a beta of 0.45. The business has a 50 day simple moving average of $5.96 and a two-hundred day simple moving average of $5.38. FinVolution Group has a 52-week low of $4.22 and a 52-week high of $7.24.

FinVolution Group (NYSE:FINV) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.30 earnings per share (EPS) for the quarter. The business had revenue of $435.93 million for the quarter. FinVolution Group had a return on equity of 16.57% and a net margin of 17.00%.

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.