Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in FinVolution Group (NYSE:FINV)

Connor Clark & Lunn Investment Management Ltd. raised its position in FinVolution Group (NYSE:FINV) by 496.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 418,477 shares of the company’s stock after purchasing an additional 348,276 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of FinVolution Group worth $2,841,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of FinVolution Group in the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in FinVolution Group in the 3rd quarter worth approximately $58,000. Aigen Investment Management LP acquired a new position in FinVolution Group in the 4th quarter valued at $75,000. SYM FINANCIAL Corp lifted its stake in shares of FinVolution Group by 14.4% during the 4th quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company’s stock worth $92,000 after purchasing an additional 1,706 shares during the period. Finally, SVB Wealth LLC acquired a new stake in shares of FinVolution Group during the fourth quarter worth $96,000. 31.15% of the stock is currently owned by hedge funds and other institutional investors.

FinVolution Group Stock Up 5.2 %

Shares of NYSE:FINV opened at $9.17 on Tuesday. The company has a market cap of $2.43 billion, a P/E ratio of 7.90 and a beta of 0.47. The business has a fifty day simple moving average of $7.87 and a 200-day simple moving average of $6.80. FinVolution Group has a 52 week low of $4.45 and a 52 week high of $9.81.

FinVolution Group (NYSE:FINV) last posted its quarterly earnings results on Monday, March 17th. The company reported $0.38 EPS for the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%.

FinVolution Group declared that its board has authorized a share buyback program on Monday, March 17th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.