Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in LexinFintech Holdings by 7.7%, now holding approximately 1,384,343 shares valued at $13.97 million.
• Additional investments in LexinFintech were made by Bank of America Corp DE, which increased its holdings by 115.9% last quarter, and BNP Paribas Financial Markets significantly boosted its position by 188,730.8%.
• LexinFintech recently reported an EPS of $0.40 for the last quarter, surpassing analysts' expectations, and has adjusted its stock rating from "buy" to "hold" by Wall Street Zen.

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,384,343 shares of the company's stock after selling 116,190 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.82% of LexinFintech worth $13,968,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. D Orazio & Associates Inc. increased its holdings in 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 acquiring an additional 3,440 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of LexinFintech by 11.2% in 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. Tower Research Capital LLC TRC grew its holdings in shares of LexinFintech by 146.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company's stock valued at $71,000 after purchasing an additional 7,227 shares during the last quarter. Ameriprise Financial Inc. bought a new position in shares of LexinFintech during the 4th quarter valued at $61,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of LexinFintech by 8.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 185,988 shares of the company's stock valued at $1,079,000 after purchasing an additional 14,227 shares during the last quarter.

LexinFintech Trading Up 0.8%

LX stock traded up $0.06 during mid-day trading on Friday, reaching $6.71. 2,006,255 shares of the stock traded hands, compared to its average volume of 3,516,081. 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 has a market capitalization of $1.13 billion, a PE ratio of 5.26 and a beta of 0.47. The business has a 50-day moving average price of $6.95 and a two-hundred day moving average price of $7.93.

LexinFintech (NASDAQ:LX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.40 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 analysts' expectations of $500.62 million. LexinFintech had a net margin of 11.50% and a return on equity of 14.67%.

LexinFintech declared that its Board of Directors has authorized a stock buyback program on Monday, July 21st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

LexinFintech Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, August 26th will be given a $0.194 dividend. This represents a dividend yield of 440.0%. 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. LexinFintech's payout ratio is 14.17%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of LexinFintech from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th.

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.