PPDAI Group Inc – (NYSE:PPDF) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 932,500 shares, a decrease of 7.7% from the September 30th total of 1,010,000 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is presently 0.7 days.
PPDF has been the topic of several research reports. ValuEngine raised PPDAI Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group raised PPDAI Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $5.80 price target on shares of PPDAI Group in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $5.18.
A number of large investors have recently added to or reduced their stakes in PPDF. JPMorgan Chase & Co. lifted its stake in PPDAI Group by 266.6% in the second quarter. JPMorgan Chase & Co. now owns 1,781,366 shares of the company’s stock valued at $7,589,000 after buying an additional 1,295,462 shares during the period. Acadian Asset Management LLC increased its holdings in shares of PPDAI Group by 855.3% in the second quarter. Acadian Asset Management LLC now owns 1,077,495 shares of the company’s stock worth $4,684,000 after acquiring an additional 964,699 shares in the last quarter. BlackRock Inc. increased its holdings in shares of PPDAI Group by 28,560.7% in the second quarter. BlackRock Inc. now owns 758,361 shares of the company’s stock worth $3,300,000 after acquiring an additional 755,715 shares in the last quarter. Krane Funds Advisors LLC increased its holdings in shares of PPDAI Group by 48.3% in the second quarter. Krane Funds Advisors LLC now owns 1,602,712 shares of the company’s stock worth $6,972,000 after acquiring an additional 522,218 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of PPDAI Group by 2,243.8% in the second quarter. Renaissance Technologies LLC now owns 487,500 shares of the company’s stock worth $2,121,000 after acquiring an additional 466,700 shares in the last quarter. 13.10% of the stock is currently owned by hedge funds and other institutional investors.
PPDAI Group (NYSE:PPDF) last released its earnings results on Tuesday, August 20th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($1.64). PPDAI Group had a net margin of 52.42% and a return on equity of 45.31%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.33 billion. PPDAI Group’s revenue for the quarter was up 46.6% compared to the same quarter last year.
PPDAI Group Company Profile
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, handy cash, consumption, and other loan products; and investment services to investors and institutional funding partners.
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