Causeway Capital Management LLC recently announced the acquisition of new stake in FinVolution Group ADR (NYSE:FINV). The institutional investor has increased its shareholding in the Financial company by 38.16% to 7.9 million shares with purchase of 2.18 million shares. This fresh investment now brings its stake to 4.75% valued currently at $35.01 million. In addition, Bank of America, NA raised its holdings by 1.59 million to 3.52 million shares. And SSgA Funds Management, Inc. has lifted its position by 44.11% or 0.9 million shares – to 2.94 million shares.
With over 0.48 million FinVolution Group ADR (FINV) shares trading Friday and a closing price of $4.83 on the day, the dollar volume was approximately $2.31 million. Currently, there are 168.80M common shares owned by the public and among those 168.75M shares have been available to trade.
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The top 3 mutual fund holders in FinVolution Group ADR are Global Internet Leaders SICAV-FIS, BIT Global Internet Leaders 30, and Allspring Emerging Markets Equity. Global Internet Leaders SICAV-FIS owns 6.06 million shares of the company’s stock, all valued at over $26.86 million. The company sold -1.05 million shares recently to bring their total holdings to about 3.65% of the shares outstanding. BIT Global Internet Leaders 30 sold -0.34 million shares to see its total holdings shrink to 4.56 million shares valued at over $20.21 million and representing 2.74% of the shares outstanding. Allspring Emerging Markets Equity now owns shares totaling to 2.65% of the shares outstanding.
The company’s stock has a 5-day price change of 1.90% and -3.40% over the past three months. FINV shares are trading -2.62% year to date (YTD), with the 12-month market performance down to -1.43% lower. It has a 12-month low price of $3.55 and touched a high of $6.05 over the same period. FINV has an average intraday trading volume of 912.87K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.11%, 2.41%, and 3.89% respectively.
Institutional ownership of FinVolution Group ADR (NYSE: FINV) shares accounts for 51.97% of the company’s 168.80M shares outstanding. Mutual fund holders own 20.30%, while other institutional holders and individual stakeholders account for 32.58% and — respectively.
It has a market capitalization of $815.30M and a beta (3y monthly) value of 0.49. The stock’s trailing 12-month PE ratio is 4.10, while the earnings-per-share (ttm) stands at $1.18. The company has a PEG of 2.34 and the debt-to-equity ratio at 0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.41% over the week and 2.85% over the month.
Analysts forecast that FinVolution Group ADR (FINV) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $1.41 for 2024. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to increase by 11.02%, and 15.07% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate FinVolution Group ADR (FINV) as a “Strong Buy” at a consensus score of 1.22. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 1 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
