FinVolution Group (NYSE:FINV) Shares Gap Down – Should You Sell?

FinVolution Group (NYSE:FINV)’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 changing hands.

Wall Street Analysts Forecast Growth

FINV has been the topic of several recent analyst reports. UBS Group reaffirmed a “neutral” rating and set a $11.80 target price (up previously from $7.80) on shares of FinVolution Group in a research note on Thursday. Citigroup raised FinVolution Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $6.00 to $11.00 in a research note on Tuesday.

FinVolution Group Stock Performance

The stock has a 50 day moving average price of $8.03 and a 200 day moving average price of $6.86. The company has a market cap of $2.64 billion, a P/E ratio of 8.58 and a beta of 0.47.

FinVolution Group (NYSE:FINV) last posted its quarterly earnings data on Monday, March 17th. The company reported $0.38 EPS for the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%. The company had revenue of $473.57 million for the quarter.

FinVolution Group Increases Dividend

The business also recently announced 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 represents a dividend yield of 2%. This is a boost from FinVolution Group’s previous annual dividend of $0.24. The ex-dividend date of this dividend is Wednesday, April 16th. FinVolution Group’s payout ratio is presently 16.80%.

FinVolution Group declared that its Board of Directors has initiated a share buyback program on Monday, March 17th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On FinVolution Group

A number of hedge funds have recently modified their holdings of the stock. Ascent Group LLC grew its holdings in shares of FinVolution Group by 55.6% in the 4th quarter. Ascent Group LLC now owns 25,866 shares of the company’s stock worth $176,000 after acquiring an additional 9,239 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of FinVolution Group in the 4th quarter worth $3,342,000. Public Employees Retirement System of Ohio grew its holdings in shares of FinVolution Group by 13.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 224,096 shares of the company’s stock worth $1,522,000 after acquiring an additional 26,104 shares during the last quarter. Vise Technologies Inc. grew its holdings in shares of FinVolution Group by 77.8% in the 4th quarter. Vise Technologies Inc. now owns 43,986 shares of the company’s stock worth $299,000 after acquiring an additional 19,247 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of FinVolution Group by 6.7% in the 4th quarter. Two Sigma Advisers LP now owns 410,300 shares of the company’s stock worth $2,786,000 after acquiring an additional 25,700 shares during the last quarter. 31.15% of the stock is currently owned by institutional investors and hedge funds.

About FinVolution Group

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.