FinVolution Group (NYSE:FINV) Short Interest Update

FinVolution Group (NYSE:FINV - Get Free Report) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 2,350,000 shares, a drop of 12.6% from the February 28th total of 2,690,000 shares. Currently, 1.6% of the company's stock are short sold. Based on an average trading volume of 899,800 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Trading of FinVolution Group

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

FinVolution Group Stock Down 10.1 %

FINV stock traded down $0.98 during trading on Friday, reaching $8.75. The stock had a trading volume of 1,280,152 shares, compared to its average volume of 747,752. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 7.54 and a beta of 0.32. FinVolution Group has a one year low of $4.63 and a one year high of $11.08. The company's 50 day moving average is $8.69 and its two-hundred day moving average is $7.26.

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

FinVolution Group declared that its board has approved a stock repurchase plan on Monday, March 17th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its shares are undervalued.

FinVolution Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FINV. UBS Group reissued a "neutral" rating and set a $11.80 price objective (up from $7.80) on shares of FinVolution Group in a report on Thursday, March 20th. Citigroup raised FinVolution Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $6.00 to $11.00 in a research report on Tuesday, March 18th.

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.