LexinFintech Holdings Ltd. Sponsored ADR $LX Shares Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its holdings in LexinFintech Holdings Ltd. by 16.6%, owning 4,669,331 shares worth approximately $47 million after purchasing an additional 663,330 shares in Q1.
• LexinFintech announced a semi-annual dividend of $0.194 per share, reflecting a significant increase from the previous dividend of $0.11, resulting in a dividend yield of 440.0%.
• The stock faced a downgrade from a "buy" to a "hold" rating by Wall Street Zen, but still maintains a consensus "buy" rating with a price target of $13.60.

Acadian Asset Management LLC boosted its stake in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,669,331 shares of the company's stock after purchasing an additional 663,330 shares during the period. Acadian Asset Management LLC owned about 2.78% of LexinFintech worth $47,092,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Invesco Ltd. boosted its stake in shares of LexinFintech by 2.2% in the first quarter. Invesco Ltd. now owns 118,893 shares of the company's stock worth $1,200,000 after acquiring an additional 2,616 shares during the period. D Orazio & Associates Inc. boosted its stake in shares of LexinFintech by 10.5% in the first quarter. D Orazio & Associates Inc. now owns 36,241 shares of the company's stock worth $366,000 after acquiring an additional 3,440 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of LexinFintech by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 46,206 shares of the company's stock worth $466,000 after acquiring an additional 4,639 shares during the period. Aigen Investment Management LP bought a new position in shares of LexinFintech in the first quarter worth about $103,000. Finally, Ameriprise Financial Inc. bought a new position in shares of LexinFintech in the fourth quarter worth about $61,000.

LexinFintech Stock Down 1.3%

Shares of LexinFintech stock traded down $0.08 during trading on Tuesday, reaching $5.68. The company's stock had a trading volume of 1,143,435 shares, compared to its average volume of 3,460,462. The company has a quick ratio of 1.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.11. The company has a market cap of $954.90 million, a price-to-earnings ratio of 4.46 and a beta of 0.54. LexinFintech Holdings Ltd. Sponsored ADR has a 1-year low of $1.63 and a 1-year high of $11.64. The company has a 50-day simple moving average of $6.50 and a two-hundred day simple moving average of $7.60.

LexinFintech (NASDAQ:LX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.20. The firm had revenue of $500.62 million during the quarter, compared to analysts' expectations of $500.62 million. LexinFintech had a return on equity of 14.67% and a net margin of 11.50%.

LexinFintech Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, August 26th were issued a $0.194 dividend. This is a boost from LexinFintech's previous semi-annual dividend of $0.11. This represents a yield of 440.0%. The ex-dividend date of this dividend was Tuesday, August 26th. LexinFintech's dividend payout ratio is 24.41%.

LexinFintech announced that its Board of Directors has authorized a stock repurchase program on Monday, July 21st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered LexinFintech from a "buy" rating to a "hold" rating in a research note on Sunday, August 31st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $13.60.

About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.