FinVolution Group (NYSE:FINV) Sets New 1-Year High – What’s Next?

FinVolution Group (NYSE:FINV) shares hit a new 52-week high during trading on Thursday . The company traded as high as $7.98 and last traded at $8.02, with a volume of 26548 shares traded. The stock had previously closed at $7.80.

FinVolution Group Stock Up 3.9 %

The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 7.15 and a beta of 0.49. The company has a 50-day moving average price of $7.08 and a 200-day moving average price of $6.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of FinVolution Group during the 4th quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of FinVolution Group in the 3rd quarter worth about $58,000. Aigen Investment Management LP acquired a new stake in FinVolution Group during the 4th quarter valued at $75,000. SYM FINANCIAL Corp raised its holdings in shares of FinVolution Group by 14.4% in the fourth quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company’s stock valued at $92,000 after buying an additional 1,706 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of FinVolution Group during the third quarter valued at approximately $94,000. Hedge funds and other institutional investors own 31.15% of the company’s stock.

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.