Alliancebernstein L.P. Has $37.49 Million Stock Holdings in LexinFintech Holdings Ltd. Sponsored ADR $LX

Key Points

• Alliancebernstein L.P. significantly increased its stake in LexinFintech Holdings Ltd. by 1,862.9%, now holding approximately 3.7 million shares, valued at $37.5 million.
• Hedge funds including BNP Paribas and Bank of America also boosted their investments in LexinFintech during the fourth quarter.
• LexinFintech announced a semi-annual dividend of $0.194, indicating a substantial yield of 440.0% and reflecting a positive trend from its previous dividend payout.

Alliancebernstein L.P. grew its stake in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) by 1,862.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 3,715,319 shares of the company's stock after acquiring an additional 3,526,039 shares during the quarter. Alliancebernstein L.P. owned about 2.21% of LexinFintech worth $37,488,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. lifted its position in shares of LexinFintech by 2.2% during the 1st quarter. Invesco Ltd. now owns 118,893 shares of the company's stock valued at $1,200,000 after acquiring an additional 2,616 shares during the period. D Orazio & Associates Inc. lifted its position in shares of LexinFintech by 10.5% during the 1st quarter. D Orazio & Associates Inc. now owns 36,241 shares of the company's stock worth $366,000 after buying an additional 3,440 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of LexinFintech by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 46,206 shares of the company's stock worth $466,000 after buying an additional 4,639 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of LexinFintech during the 1st quarter worth $103,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of LexinFintech during the 4th quarter worth $61,000.

Wall Street Analysts Forecast Growth

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

LexinFintech Trading Down 3.7%

LexinFintech stock traded down $0.22 during trading hours on Wednesday, hitting $5.78. The stock had a trading volume of 2,222,327 shares, compared to its average volume of 3,164,423. 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 stock has a market cap of $972.54 million, a price-to-earnings ratio of 4.55 and a beta of 0.54. LexinFintech Holdings Ltd. Sponsored ADR has a one year low of $1.63 and a one year high of $11.64. The business's 50 day simple moving average is $6.59 and its 200-day simple moving average is $7.67.

LexinFintech (NASDAQ:LX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.20 by $0.20. The firm had revenue of $500.62 million during the quarter, compared to the consensus estimate of $500.62 million. LexinFintech had a return on equity of 14.67% and a net margin of 11.50%.

LexinFintech Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, August 26th will be given 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 is Tuesday, August 26th. LexinFintech's dividend payout ratio is 24.41%.

LexinFintech announced that its Board of Directors has authorized a stock repurchase plan on Monday, July 21st that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

LexinFintech Company Profile

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.