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

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

Institutional Trading of FinVolution Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. increased its holdings in FinVolution Group by 4.5% during the 3rd 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 during the period. Geode Capital Management LLC grew its position in shares of FinVolution Group by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 74,723 shares of the company’s stock valued at $462,000 after purchasing an additional 3,164 shares in the last quarter. D Orazio & Associates Inc. increased its holdings in shares of FinVolution Group by 17.2% in the second quarter. D Orazio & Associates Inc. now owns 26,150 shares of the company’s stock worth $125,000 after purchasing an additional 3,832 shares during the period. Kathmere Capital Management LLC raised its position in shares of FinVolution Group by 23.2% in the second quarter. Kathmere Capital Management LLC now owns 43,697 shares of the company’s stock worth $208,000 after buying an additional 8,232 shares in the last quarter. Finally, Creative Planning raised its position in shares of FinVolution Group by 15.9% in the third quarter. Creative Planning now owns 67,288 shares of the company’s stock worth $416,000 after buying an additional 9,243 shares in the last quarter. 31.15% of the stock is currently owned by institutional investors.

FinVolution Group Price Performance

Shares of FinVolution Group stock traded up $0.12 on Friday, reaching $5.94. 559,647 shares of the company traded hands, compared to its average volume of 697,719. The company has a 50 day moving average of $5.96 and a 200 day moving average of $5.37. FinVolution Group has a 52 week low of $4.22 and a 52 week high of $7.24. The firm has a market capitalization of $1.58 billion, a PE ratio of 5.40 and a beta of 0.45.

FinVolution Group (NYSE:FINV) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $0.30 earnings per share for the quarter. The company had revenue of $435.93 million during the quarter. FinVolution Group had a return on equity of 16.57% and a net margin of 17.00%.

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.