FinVolution Group (NYSE:FINV) Sets New 1-Year High – Should You Buy?

FinVolution Group (NYSE:FINV)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $8.34 and last traded at $8.33, with a volume of 466739 shares traded. The stock had previously closed at $8.06.

FinVolution Group Trading Up 3.4 %

The company has a market capitalization of $2.21 billion, a P/E ratio of 7.19 and a beta of 0.49. The business has a 50 day moving average price of $7.16 and a 200 day moving average price of $6.31.

Hedge Funds Weigh In On FinVolution Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. SYM FINANCIAL Corp raised its stake in FinVolution Group by 14.4% during the 4th quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company’s stock worth $92,000 after buying an additional 1,706 shares during the period. LPL Financial LLC increased its holdings in shares of FinVolution Group by 5.3% in the fourth quarter. LPL Financial LLC now owns 44,870 shares of the company’s stock worth $305,000 after acquiring an additional 2,257 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of FinVolution Group by 4.5% in the third quarter. QRG Capital Management Inc. now owns 64,945 shares of the company’s stock worth $401,000 after acquiring an additional 2,775 shares in the last quarter. Geode Capital Management LLC raised its position in shares of FinVolution Group by 4.4% during the third quarter. Geode Capital Management LLC now owns 74,723 shares of the company’s stock worth $462,000 after purchasing an additional 3,164 shares during the period. Finally, Lester Murray Antman dba SimplyRich lifted its holdings in shares of FinVolution Group by 8.0% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 45,307 shares of the company’s stock valued at $307,000 after purchasing an additional 3,348 shares in the last quarter. 31.15% of the stock is owned by institutional investors.

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.