PPDAI Group (PPDF) Trading Up 3.2% Following Earnings Beat

PPDAI Group Inc – (NYSE:PPDF) shares were up 3.2% during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $8.16 and last traded at $8.10. Approximately 23,427 shares were traded during trading, a decline of 94% from the average daily volume of 417,776 shares. The stock had previously closed at $7.85.

The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.12. The business had revenue of $150.46 million for the quarter.

Separately, Deutsche Bank started coverage on PPDAI Group in a research note on Tuesday, April 10th. They set a “buy” rating on the stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PPDF. BlackRock Inc. bought a new position in shares of PPDAI Group during the fourth quarter valued at approximately $101,000. Millennium Management LLC bought a new position in PPDAI Group in the fourth quarter worth approximately $142,000. Citadel Advisors LLC bought a new position in PPDAI Group in the first quarter worth approximately $336,000. Jane Street Group LLC bought a new position in PPDAI Group in the first quarter worth approximately $433,000. Finally, All Stars Investment Ltd bought a new position in PPDAI Group in the first quarter worth approximately $625,000. 3.75% of the stock is currently owned by hedge funds and other institutional investors.

PPDAI Group Company Profile

PPDAI Group Inc is an online consumer finance marketplace company in China. The Company is focused on delivering accessible and convenient financial services to borrowers and investors. The Company’s products and services include Loan services offered to borrowers, and Investment services offered to investors.

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