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

FinVolution Group (NYSE:FINV)’s share price gapped up prior to trading 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 trading hands.

FinVolution Group Trading Up 3.8 %

The company has a market cap of $1.66 billion, a PE ratio of 5.48 and a beta of 0.45. The firm’s 50-day simple moving average is $5.98 and its two-hundred day simple moving average is $5.39.

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

Institutional Investors Weigh In On FinVolution Group

A number of hedge funds have recently modified their holdings of FINV. Geode Capital Management LLC lifted its stake in FinVolution Group by 4.4% in the third quarter. Geode Capital Management LLC now owns 74,723 shares of the company’s stock worth $462,000 after acquiring an additional 3,164 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in FinVolution Group in the 3rd quarter valued at approximately $1,224,000. XTX Topco Ltd acquired a new position in shares of FinVolution Group in the third quarter worth $346,000. Jane Street Group LLC lifted its stake in shares of FinVolution Group by 229.4% during the 3rd quarter. Jane Street Group LLC now owns 185,420 shares of the company’s stock worth $1,146,000 after purchasing an additional 129,138 shares during the period. Finally, State Street Corp increased its holdings in shares of FinVolution Group by 8.3% during the 3rd quarter. State Street Corp now owns 3,496,614 shares of the company’s stock worth $21,609,000 after buying an additional 268,843 shares during the last quarter. Hedge funds and other institutional investors own 31.15% of the company’s stock.

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.