Millennium Management LLC Has $2.60 Million Position in FinVolution Group (NYSE:FINV)

Millennium Management LLC cut its position in FinVolution Group (NYSE:FINV) by 48.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 544,729 shares of the company’s stock after selling 516,755 shares during the quarter. Millennium Management LLC’s holdings in FinVolution Group were worth $2,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in FinVolution Group by 12.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,861,280 shares of the company’s stock worth $13,634,000 after purchasing an additional 317,682 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of FinVolution Group by 16.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,306 shares of the company’s stock valued at $10,689,000 after purchasing an additional 315,366 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of FinVolution Group by 155.9% in the 1st quarter. Russell Investments Group Ltd. now owns 503,756 shares of the company’s stock valued at $2,539,000 after purchasing an additional 306,903 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of FinVolution Group by 54.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 713,690 shares of the company’s stock valued at $3,597,000 after purchasing an additional 250,967 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in FinVolution Group during the second quarter worth $1,039,000. 31.15% of the stock is currently owned by institutional investors and hedge funds.

FinVolution Group Stock Down 6.2 %

Shares of NYSE FINV opened at $5.79 on Wednesday. The company’s fifty day simple moving average is $5.68 and its 200 day simple moving average is $5.20. FinVolution Group has a 12-month low of $4.22 and a 12-month high of $7.24. The firm has a market cap of $1.54 billion, a PE ratio of 5.31 and a beta of 0.45.

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

FinVolution Group Company Profile

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.