FinVolution Group (NYSE:FINV) Sets New 12-Month High – What’s Next?

FinVolution Group (NYSE:FINV) reached a new 52-week high during trading on Monday . The stock traded as high as $7.40 and last traded at $7.40, with a volume of 39236 shares trading hands. The stock had previously closed at $6.99.

FinVolution Group Stock Performance

The company has a 50 day moving average of $6.31 and a 200 day moving average of $5.56. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 6.15 and a beta of 0.48.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FINV. SG Americas Securities LLC acquired a new position in FinVolution Group in the 2nd quarter valued at $472,000. Commonwealth Equity Services LLC acquired a new position in FinVolution Group in the 2nd quarter valued at $270,000. Acadian Asset Management LLC raised its stake in FinVolution Group by 12.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,861,280 shares of the company’s stock valued at $13,634,000 after purchasing an additional 317,682 shares during the last quarter. Caprock Group LLC acquired a new position in FinVolution Group in the 2nd quarter valued at $479,000. Finally, American Century Companies Inc. grew its holdings in FinVolution Group by 5.9% in the 2nd quarter. American Century Companies Inc. now owns 699,574 shares of the company’s stock valued at $3,337,000 after buying an additional 39,252 shares in the last quarter. 31.15% of the stock is owned by institutional investors and hedge funds.

FinVolution Group Company Profile

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.