FinVolution Group (NYSE:FINV) Reaches New 12-Month High – Still a Buy?

Shares of FinVolution Group (NYSE:FINV) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.70 and last traded at $7.58, with a volume of 497764 shares. The stock had previously closed at $7.66.

FinVolution Group Stock Performance

The company has a 50 day simple moving average of $6.86 and a 200 day simple moving average of $6.11. The company has a market capitalization of $2.03 billion, a PE ratio of 6.59 and a beta of 0.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in FinVolution Group during the fourth quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of FinVolution Group in the third quarter valued at approximately $58,000. SYM FINANCIAL Corp increased 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 purchasing an additional 1,706 shares during the last quarter. Quadrature Capital Ltd acquired a new position in FinVolution Group during the third quarter worth $94,000. Finally, Blue Trust Inc. grew its holdings in FinVolution Group by 246.8% in the 3rd quarter. Blue Trust Inc. now owns 15,754 shares of the company’s stock valued at $97,000 after buying an additional 11,211 shares in the last quarter. 31.15% of the stock is owned by institutional investors and hedge funds.

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.