PPDAI Group (PPDF) Shares Down 5.4%

PPDAI Group Inc – (NYSE:PPDF)’s share price fell 5.4% during mid-day trading on Monday . The company traded as low as $5.92 and last traded at $5.95. 669,124 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 695,770 shares. The stock had previously closed at $6.29.

Separately, Deutsche Bank downgraded shares of PPDAI Group from a “buy” rating to a “hold” rating in a report on Friday, August 10th.

PPDAI Group (NYSE:PPDF) last posted its quarterly earnings data on Wednesday, August 22nd. The company reported $0.28 earnings per share (EPS) for the quarter. The company had revenue of $160.16 million for the quarter. PPDAI Group had a net margin of 25.95% and a return on equity of 36.22%.

Several institutional investors and hedge funds have recently bought and sold shares of PPDF. BP PLC increased its holdings in PPDAI Group by 43.4% in the 3rd quarter. BP PLC now owns 112,364 shares of the company’s stock worth $605,000 after buying an additional 34,006 shares during the period. Wells Fargo & Company MN increased its holdings in PPDAI Group by 13.6% in the 3rd quarter. Wells Fargo & Company MN now owns 7,630,542 shares of the company’s stock worth $41,052,000 after buying an additional 915,372 shares during the period. Engineers Gate Manager LP acquired a new position in PPDAI Group in the 3rd quarter worth approximately $107,000. Hershey Trust Co. increased its holdings in PPDAI Group by 56.2% in the 3rd quarter. Hershey Trust Co. now owns 183,546 shares of the company’s stock worth $987,000 after buying an additional 66,009 shares during the period. Finally, Bank of Montreal Can acquired a new position in PPDAI Group in the 3rd quarter worth approximately $141,000. 5.94% of the stock is currently owned by institutional investors.

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About PPDAI Group (NYSE:PPDF)

PPDAI Group Inc, an investment holding company, operates an online consumer finance marketplace through its platform in the People's Republic of China. It provides services to match borrowers with investors and facilitate loan transactions on its marketplace through the lifecycle of loans. The company offers standard and other loan products; and investment services to investors.

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