LexinFintech Holdings Ltd. Sponsored ADR $LX Shares Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in LexinFintech Holdings by 222.8%, owning approximately 89,067 shares worth $642,000 as of the last quarter.
• LexinFintech announced a semi-annual dividend of $0.194 per share, up from a previous dividend of $0.11, indicating a strong dividend yield of 440.0%.
• Wall Street analysts have recently upgraded LexinFintech to a "buy" rating with an average target price of $13.60, signifying positive growth expectations for the stock.

Bayforest Capital Ltd increased its position in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) by 222.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,067 shares of the company's stock after acquiring an additional 61,472 shares during the period. Bayforest Capital Ltd owned about 0.05% of LexinFintech worth $642,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LX. Vanguard Group Inc. acquired a new position in LexinFintech during the 1st quarter worth about $44,048,000. Alliancebernstein L.P. lifted its stake in LexinFintech by 1,862.9% during the 1st quarter. Alliancebernstein L.P. now owns 3,715,319 shares of the company's stock worth $37,488,000 after acquiring an additional 3,526,039 shares in the last quarter. WT Asset Management Ltd acquired a new position in LexinFintech during the 1st quarter worth about $20,483,000. BRIGHT VALLEY CAPITAL Ltd lifted its stake in LexinFintech by 33.0% during the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 5,305,208 shares of the company's stock worth $53,530,000 after acquiring an additional 1,315,208 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in LexinFintech by 201.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,482,060 shares of the company's stock worth $14,954,000 after acquiring an additional 991,075 shares in the last quarter.

LexinFintech Price Performance

LX stock opened at $4.95 on Wednesday. LexinFintech Holdings Ltd. Sponsored ADR has a 1 year low of $2.63 and a 1 year high of $11.64. The firm has a market capitalization of $832.89 million, a P/E ratio of 3.90 and a beta of 0.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.89 and a quick ratio of 1.88. The business's 50-day moving average is $5.94 and its two-hundred day moving average is $6.95.

LexinFintech (NASDAQ:LX - Get Free Report) last issued its earnings results 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 return on equity of 14.67% and a net margin of 11.50%.The business had revenue of $500.62 million for the quarter, compared to analyst estimates of $500.62 million.

LexinFintech announced that its Board of Directors has authorized a stock repurchase program on Monday, July 21st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

LexinFintech Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, August 26th were given a dividend of $0.194 per share. This is a boost from LexinFintech's previous semi-annual dividend of $0.11. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a dividend yield of 440.0%. LexinFintech's dividend payout ratio is 24.41%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen raised LexinFintech from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Weiss Ratings reissued a "hold (c+)" rating on shares of LexinFintech in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $13.60.

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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