FinVolution Group (NYSE:FINV) Shares Gap Down - Time to Sell?

FinVolution Group (NYSE:FINV - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $10.61, but opened at $9.70. FinVolution Group shares last traded at $10.11, with a volume of 380,400 shares trading hands.

Analysts Set New Price Targets

FINV has been the topic of a number of research reports. Citigroup raised shares of FinVolution Group from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $6.00 to $11.00 in a report on Tuesday, March 18th. UBS Group reissued a "neutral" rating and issued a $11.80 price objective (up previously from $7.80) on shares of FinVolution Group in a report on Thursday.

FinVolution Group Stock Performance

The stock's 50 day moving average is $8.16 and its 200 day moving average is $6.94. The company has a market capitalization of $2.62 billion, a PE ratio of 8.52 and a beta of 0.47.

FinVolution Group (NYSE:FINV - Get Free Report) last issued its earnings results on Monday, March 17th. The company reported $0.38 earnings per share (EPS) for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%. The business had revenue of $473.57 million for the quarter.

FinVolution Group Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th will be issued a dividend of $0.277 per share. This is a boost from FinVolution Group's previous annual dividend of $0.24. The ex-dividend date is Wednesday, April 16th. This represents a yield of 2%. FinVolution Group's dividend payout ratio is 16.80%.

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FinVolution Group declared that its board has authorized a share buyback plan on Monday, March 17th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy up to 6.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On FinVolution Group

A number of institutional investors and hedge funds have recently modified their holdings of FINV. Leading Securities Co Ltd bought a new stake in FinVolution Group during the 4th quarter worth approximately $14,091,000. Norges Bank purchased a new position in shares of FinVolution Group during the 4th quarter valued at $6,360,000. Prudential PLC bought a new position in shares of FinVolution Group in the fourth quarter worth $3,370,000. Mackenzie Financial Corp purchased a new stake in shares of FinVolution Group in the fourth quarter worth $3,342,000. Finally, Renaissance Group LLC purchased a new stake in shares of FinVolution Group in the fourth quarter worth $2,732,000. 31.15% of the stock is owned by hedge funds and other institutional investors.

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.