FinVolution Group (NYSE:FINV) Board Initiates Stock Repurchase Plan

FinVolution Group (NYSE:FINV) announced that its Board of Directors has initiated a share buyback program on Monday, March 17th, RTT News reports. The company plans to buyback $150.00 million in shares. This buyback authorization permits the company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

FinVolution Group Price Performance

NYSE FINV traded up $0.46 during mid-day trading on Monday, hitting $9.17. The company’s stock had a trading volume of 2,277,094 shares, compared to its average volume of 690,121. The firm has a market capitalization of $2.43 billion, a P/E ratio of 7.90 and a beta of 0.47. FinVolution Group has a 52-week low of $4.45 and a 52-week high of $10.40. The stock’s fifty day simple moving average is $7.87 and its two-hundred day simple moving average is $6.80.

FinVolution Group (NYSE:FINV) last issued its earnings results on Monday, March 17th. The company reported $0.38 EPS for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%.

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.