FinVolution Group (NYSE:FINV – Get Rating) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, Briefing.com reports. The firm currently has a $5.33 target price on the stock, up from their prior target price of $3.27. Citigroup’s price objective would suggest a potential upside of 12.45% from the company’s previous close.
Separately, CICC Research started coverage on FinVolution Group in a research note on Friday, May 6th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $7.33.
NYSE FINV traded up $0.53 on Wednesday, reaching $4.74. The company had a trading volume of 4,983 shares, compared to its average volume of 496,221. The firm has a market capitalization of $1.33 billion, a PE ratio of 3.59 and a beta of 0.96. FinVolution Group has a 1 year low of $2.68 and a 1 year high of $10.41. The firm has a 50-day moving average of $3.85 and a 200-day moving average of $4.40.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of FinVolution Group during the fourth quarter valued at $54,989,000. Goldman Sachs Group Inc. increased its holdings in shares of FinVolution Group by 3,151.5% during the third quarter. Goldman Sachs Group Inc. now owns 1,445,287 shares of the company’s stock valued at $8,152,000 after purchasing an additional 1,400,837 shares during the period. Norges Bank acquired a new position in shares of FinVolution Group during the fourth quarter valued at $4,025,000. Acadian Asset Management LLC increased its holdings in shares of FinVolution Group by 132.6% during the first quarter. Acadian Asset Management LLC now owns 1,095,230 shares of the company’s stock valued at $4,339,000 after purchasing an additional 624,452 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of FinVolution Group by 23.8% during the third quarter. BlackRock Inc. now owns 2,355,432 shares of the company’s stock valued at $13,286,000 after purchasing an additional 452,549 shares during the period.
FinVolution Group Company Profile (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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