PPDAI Group Inc – (NYSE:PPDF) traded down 4.3% during trading on Thursday . The stock traded as low as $4.70 and last traded at $4.92. 997,098 shares were traded during mid-day trading, an increase of 12% from the average session volume of 887,427 shares. The stock had previously closed at $5.14.
Several equities research analysts have commented on the company. ValuEngine lowered PPDAI Group from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Zacks Investment Research upgraded PPDAI Group from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a research report on Tuesday, February 12th. Finally, Morgan Stanley assumed coverage on PPDAI Group in a research report on Tuesday, December 11th. They issued a “weight” rating and a $6.00 price objective on the stock.
Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC acquired a new position in shares of PPDAI Group during the 4th quarter worth approximately $304,000. Greenspring Associates Inc. acquired a new position in shares of PPDAI Group during the 4th quarter worth approximately $233,000. FMR LLC raised its stake in shares of PPDAI Group by 65.3% during the 4th quarter. FMR LLC now owns 5,151,344 shares of the company’s stock worth $18,545,000 after buying an additional 2,035,066 shares during the period. Millennium Management LLC acquired a new position in shares of PPDAI Group during the 4th quarter worth approximately $327,000. Finally, Massachusetts Institute of Technology acquired a new position in shares of PPDAI Group during the 4th quarter worth approximately $871,000. 7.37% of the stock is owned by institutional investors and hedge funds.
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PPDAI Group Inc, an investment holding company, operates an online consumer finance marketplace through its platform in the People's Republic of China. It provides services to match borrowers with investors and facilitate loan transactions on its marketplace through the lifecycle of loans. The company offers standard and other loan products; and investment services to investors.
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