FinVolution Group (NYSE:FINV – Get Free Report) announced that its Board of Directors has initiated a share repurchase program on Monday, March 17th, RTT News reports. The company plans to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
FinVolution Group Stock Up 5.2 %
NYSE FINV opened at $9.17 on Tuesday. The business’s fifty day simple moving average is $7.87 and its 200-day simple moving average is $6.80. The firm has a market cap of $2.43 billion, a PE 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 $9.25.
FinVolution Group (NYSE:FINV – Get Free Report) 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%.
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.
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