FinVolution Group (NYSE:FINV) Sees Significant Drop in Short Interest

FinVolution Group (NYSE:FINV) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,340,000 shares, a drop of 14.6% from the March 15th total of 1,570,000 shares. Based on an average daily volume of 828,700 shares, the short-interest ratio is presently 1.6 days.

Analysts Set New Price Targets

Separately, Nomura initiated coverage on shares of FinVolution Group in a report on Monday, December 18th. They set a “buy” rating on the stock.

Hedge Funds Weigh In On FinVolution Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ballentine Partners LLC increased its position in FinVolution Group by 62.7% during the first quarter. Ballentine Partners LLC now owns 18,481 shares of the company’s stock worth $93,000 after purchasing an additional 7,123 shares during the last quarter. Goldman Sachs Group Inc. increased its position in FinVolution Group by 134.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,176,517 shares of the company’s stock worth $10,665,000 after purchasing an additional 1,246,918 shares during the last quarter. FIL Ltd acquired a new stake in FinVolution Group during the fourth quarter worth about $305,000. GSA Capital Partners LLP acquired a new stake in FinVolution Group during the fourth quarter worth about $107,000. Finally, Wexford Capital LP increased its position in FinVolution Group by 377.8% during the fourth quarter. Wexford Capital LP now owns 471,698 shares of the company’s stock worth $2,311,000 after purchasing an additional 372,981 shares during the last quarter. 31.15% of the stock is owned by hedge funds and other institutional investors.

FinVolution Group Trading Down 3.7 %

NYSE:FINV opened at $5.00 on Friday. The company’s 50-day moving average price is $5.06 and its 200-day moving average price is $4.86. The company has a market cap of $1.41 billion, a P/E ratio of 4.27 and a beta of 0.52. FinVolution Group has a twelve month low of $3.63 and a twelve month high of $6.05.

FinVolution Group (NYSE:FINV) last posted its quarterly earnings results on Monday, March 18th. The company reported $0.29 earnings per share for the quarter. The firm had revenue of $454.03 million for the quarter. FinVolution Group had a net margin of 18.70% and a return on equity of 18.53%.

FinVolution Group Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Tuesday, April 16th will be paid a $0.237 dividend. This is an increase from FinVolution Group’s previous annual dividend of $0.22. This represents a dividend yield of 4.88%. The ex-dividend date of this dividend is Monday, April 15th. FinVolution Group’s dividend payout ratio (DPR) is currently 16.24%.

About FinVolution Group

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by proprietary technologies connects underserved 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.