Allianz Asset Management GmbH purchased a new stake in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 441,515 shares of the company's stock, valued at approximately $4,455,000. Allianz Asset Management GmbH owned 0.26% of LexinFintech as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LX. Ameriprise Financial Inc. bought a new position in LexinFintech during the fourth quarter worth $61,000. Tower Research Capital LLC TRC raised its stake in LexinFintech by 146.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company's stock worth $71,000 after buying an additional 7,227 shares during the last quarter. Raymond James Financial Inc. bought a new position in LexinFintech during the fourth quarter worth $157,000. Ritholtz Wealth Management bought a new position in LexinFintech during the first quarter worth $164,000. Finally, NewEdge Advisors LLC bought a new position in LexinFintech during the fourth quarter worth $166,000.
Wall Street Analyst Weigh In
Separately, Wall Street Zen cut shares of LexinFintech from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th.
Get Our Latest Analysis on LX
LexinFintech Stock Down 1.0%
Shares of LX traded down $0.07 during trading hours on Friday, reaching $6.31. 3,017,881 shares of the stock traded hands, compared to its average volume of 3,490,661. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $7.11 and a 200 day simple moving average of $7.94. LexinFintech Holdings Ltd. Sponsored ADR has a 52 week low of $1.57 and a 52 week high of $11.64. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 5.96 and a beta of 0.41.
LexinFintech (NASDAQ:LX - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.33 earnings per share for the quarter. LexinFintech had a net margin of 9.44% and a return on equity of 12.52%. The company had revenue of $427.76 million for the quarter.
LexinFintech announced that its Board of Directors has approved a stock repurchase program on Monday, July 21st that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.
About LexinFintech
(
Free Report)
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.
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