Short Interest in FinVolution Group (NYSE:FINV) Declines By 29.9%

FinVolution Group (NYSE:FINVGet Rating) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 2,460,000 shares, a decline of 29.9% from the March 15th total of 3,510,000 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 1,040,000 shares, the short-interest ratio is currently 2.4 days.

Shares of NYSE:FINV traded down $0.01 on Friday, hitting $3.71. The company had a trading volume of 350,520 shares, compared to its average volume of 620,693. FinVolution Group has a 1-year low of $2.68 and a 1-year high of $10.41. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 2.81 and a beta of 1.03. The stock has a 50 day moving average price of $4.00 and a 200 day moving average price of $4.87.

The firm also recently declared an annual dividend, which will be paid on Friday, May 6th. Investors of record on Wednesday, April 13th will be paid a $0.205 dividend. The ex-dividend date is Tuesday, April 12th. This is an increase from FinVolution Group’s previous annual dividend of $0.17. This represents a dividend yield of 4.5%. FinVolution Group’s dividend payout ratio is 14.39%.

FINV has been the topic of several research reports. Citigroup decreased their price objective on shares of FinVolution Group from $7.27 to $3.27 and set a “neutral” rating on the stock in a report on Wednesday, March 16th. UBS Group downgraded shares of FinVolution Group from a “buy” rating to a “neutral” rating and set a $5.60 price objective on the stock. in a report on Monday, December 20th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $6.82.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new position in shares of FinVolution Group in the second quarter valued at about $47,000. Parametric Portfolio Associates LLC acquired a new position in shares of FinVolution Group in the fourth quarter valued at about $51,000. Dupont Capital Management Corp acquired a new position in shares of FinVolution Group in the fourth quarter valued at about $63,000. Centiva Capital LP acquired a new position in shares of FinVolution Group in the third quarter valued at about $80,000. Finally, Virtu Financial LLC acquired a new position in shares of FinVolution Group in the fourth quarter valued at about $85,000. Institutional investors and hedge funds own 81.18% of the company’s stock.

About FinVolution Group (Get Rating)

FinVolution Group, an investment holding company, operates an online consumer finance marketplace in the People's Republic of China. It operates a fintech platform that connects underserved individual borrowers with financial institutions. The company's platform provides standard and other loan products.

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