FinVolution Group (NYSE:FINV) Shares Gap Up – Here’s Why

Shares of FinVolution Group (NYSE:FINV) gapped up before the market opened on Tuesday . The stock had previously closed at $6.03, but opened at $6.26. FinVolution Group shares last traded at $6.32, with a volume of 64,830 shares traded.

FinVolution Group Stock Up 3.8 %

The firm has a market capitalization of $1.66 billion, a P/E ratio of 5.48 and a beta of 0.45. The company’s 50 day moving average is $5.98 and its 200-day moving average is $5.39.

FinVolution Group (NYSE:FINV) last issued its earnings results on Tuesday, August 20th. The company reported $0.30 earnings per share for the quarter. The firm had revenue of $435.93 million during the quarter. FinVolution Group had a net margin of 17.00% and a return on equity of 16.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in FinVolution Group by 8.3% during the third quarter. State Street Corp now owns 3,496,614 shares of the company’s stock valued at $21,609,000 after buying an additional 268,843 shares during the last quarter. Acadian Asset Management LLC grew its stake in FinVolution Group by 12.5% during the second quarter. Acadian Asset Management LLC now owns 2,861,280 shares of the company’s stock valued at $13,634,000 after acquiring an additional 317,682 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FinVolution Group by 16.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,306 shares of the company’s stock worth $10,689,000 after acquiring an additional 315,366 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of FinVolution Group by 54.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 713,690 shares of the company’s stock valued at $3,597,000 after purchasing an additional 250,967 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of FinVolution Group by 5.9% during the 2nd quarter. American Century Companies Inc. now owns 699,574 shares of the company’s stock worth $3,337,000 after acquiring an additional 39,252 shares during the last quarter. Institutional investors own 31.15% of the company’s stock.

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.