FinVolution Group (NYSE:FINV) Short Interest Down 15.4% in October

FinVolution Group (NYSE:FINV) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 838,900 shares, a decrease of 15.4% from the October 15th total of 991,300 shares. Based on an average daily trading volume, of 699,800 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.6% of the company’s stock are short sold.

Institutional Investors Weigh In On FinVolution Group

Hedge funds have recently made changes to their positions in the business. SYM FINANCIAL Corp purchased a new stake in FinVolution Group during the second quarter worth about $54,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of FinVolution Group during the 3rd quarter worth approximately $58,000. SVB Wealth LLC bought a new stake in shares of FinVolution Group in the 1st quarter worth approximately $80,000. Quadrature Capital Ltd purchased a new position in FinVolution Group in the third quarter valued at approximately $94,000. Finally, Blue Trust Inc. grew its holdings in FinVolution Group by 246.8% during the third quarter. Blue Trust Inc. now owns 15,754 shares of the company’s stock valued at $97,000 after purchasing an additional 11,211 shares during the period. 31.15% of the stock is currently owned by institutional investors.

FinVolution Group Price Performance

Shares of FINV stock traded up $0.09 on Monday, hitting $6.03. The stock had a trading volume of 923,669 shares, compared to its average volume of 698,733. The business has a 50 day moving average of $5.96 and a 200 day moving average of $5.38. FinVolution Group has a 12-month low of $4.22 and a 12-month high of $7.24. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 5.54 and a beta of 0.45.

FinVolution Group (NYSE:FINV) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.30 EPS 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%.

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.