Caxton Associates LLP Buys Shares of 51,325 LexinFintech Holdings Ltd. Sponsored ADR $LX

Key Points

• Caxton Associates LLP acquired 51,325 shares of LexinFintech Holdings, valued at approximately $518,000, during the first quarter, marking a shift in investment strategy.
• Major hedge funds including Goldman Sachs, Alliancebernstein, and Nomura Holdings significantly increased their stakes in LexinFintech, indicating growing institutional interest in the company.
• LexinFintech recently announced a semi-annual dividend of $0.194 per share, reflecting an increase in its dividend payout ratio, currently at 24.41%.

Caxton Associates LLP bought a new stake in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 51,325 shares of the company's stock, valued at approximately $518,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its stake in LexinFintech by 201.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,482,060 shares of the company's stock valued at $14,954,000 after buying an additional 991,075 shares during the last quarter. Alliancebernstein L.P. lifted its stake in LexinFintech by 1,862.9% in the first quarter. Alliancebernstein L.P. now owns 3,715,319 shares of the company's stock valued at $37,488,000 after buying an additional 3,526,039 shares during the last quarter. Nomura Holdings Inc. lifted its stake in LexinFintech by 437.7% in the first quarter. Nomura Holdings Inc. now owns 509,512 shares of the company's stock valued at $5,141,000 after buying an additional 414,749 shares during the last quarter. Trexquant Investment LP lifted its stake in LexinFintech by 331.3% in the first quarter. Trexquant Investment LP now owns 423,159 shares of the company's stock valued at $4,270,000 after buying an additional 325,039 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in LexinFintech in the first quarter valued at $1,437,000.

Analysts Set New Price Targets

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

LexinFintech Price Performance

Shares of LX opened at $5.87 on Friday. The firm has a market capitalization of $987.69 million, a price-to-earnings ratio of 4.62 and a beta of 0.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.88 and a current ratio of 1.89. LexinFintech Holdings Ltd. Sponsored ADR has a one year low of $1.63 and a one year high of $11.64. The stock's fifty day moving average is $6.56 and its 200-day moving average is $7.66.

LexinFintech (NASDAQ:LX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.20. The firm had revenue of $500.62 million for the quarter, compared to analyst estimates 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. Investors of record on Tuesday, August 26th will be issued a dividend of $0.194 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This is an increase from LexinFintech's previous semi-annual dividend of $0.11. This represents a yield of 440.0%. LexinFintech's dividend payout ratio is presently 24.41%.

LexinFintech declared that its board has initiated a share repurchase program on Monday, July 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

LexinFintech 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.

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