Caxton Associates LLP Purchases New Stake in 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 acquired a new position in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 51,325 shares of the company's stock, valued at approximately $518,000.

A number of other hedge funds also recently bought and sold shares of LX. Ameriprise Financial Inc. purchased a new position in LexinFintech in the fourth quarter worth about $61,000. BNP Paribas Financial Markets boosted its holdings in shares of LexinFintech by 188,730.8% in the fourth quarter. BNP Paribas Financial Markets now owns 122,740 shares of the company's stock worth $712,000 after buying an additional 122,675 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of LexinFintech by 115.9% in the fourth quarter. Bank of America Corp DE now owns 1,134,716 shares of the company's stock worth $6,581,000 after buying an additional 609,233 shares during the last quarter. LMR Partners LLP bought a new stake in LexinFintech during the fourth quarter valued at approximately $366,000. Finally, Nomura Holdings Inc. increased its holdings in LexinFintech by 761.5% during the fourth quarter. Nomura Holdings Inc. now owns 94,763 shares of the company's stock valued at $550,000 after buying an additional 83,763 shares during the last quarter.

LexinFintech Stock Performance

Shares of NASDAQ:LX traded up $0.16 during trading on Wednesday, reaching $5.84. 684,820 shares of the stock were exchanged, compared to its average volume of 3,453,503. LexinFintech Holdings Ltd. Sponsored ADR has a 12 month low of $1.63 and a 12 month high of $11.64. The stock has a 50-day moving average price of $6.46 and a 200-day moving average price of $7.59. The company has a current ratio of 1.89, a quick ratio of 1.88 and a debt-to-equity ratio of 0.11. The firm has a market cap of $983.14 million, a PE ratio of 4.59 and a beta of 0.54.

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

LexinFintech Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, August 26th were paid a $0.194 dividend. This represents a dividend yield of 440.0%. The ex-dividend date was Tuesday, August 26th. This is a positive change from LexinFintech's previous semi-annual dividend of $0.11. LexinFintech's dividend payout ratio is currently 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 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

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

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.