Mackenzie Financial Corp Decreases Position in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX)

Key Points

• Mackenzie Financial Corp significantly reduced its stake in LexinFintech by 85.4% during the first quarter, selling over 201,000 shares and holding 34,417 shares worth approximately $347,000.
• Analysts at Wall Street Zen downgraded LexinFintech from a "buy" rating to a "hold" rating, indicating a cautious outlook on the stock's performance.
• LexinFintech reported a quarterly earnings per share (EPS) of $0.40, exceeding the consensus estimate by $0.20, alongside a revenue of $500.62 million.

Mackenzie Financial Corp lessened its position in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) by 85.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,417 shares of the company's stock after selling 201,922 shares during the period. Mackenzie Financial Corp's holdings in LexinFintech were worth $347,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of LX. Ameriprise Financial Inc. bought a new stake in LexinFintech in the 4th quarter valued at $61,000. Tower Research Capital LLC TRC grew its holdings 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 in the last quarter. Ritholtz Wealth Management bought a new stake in LexinFintech during the first quarter worth $164,000. Aviance Capital Partners LLC bought a new stake in LexinFintech during the first quarter worth $172,000. Finally, Raymond James Financial Inc. bought a new stake in LexinFintech during the fourth quarter worth $157,000.

LexinFintech Trading Down 0.0%

Shares of LX stock traded down $0.00 during trading hours on Wednesday, reaching $6.89. The company's stock had a trading volume of 2,070,493 shares, compared to its average volume of 3,505,607. The stock has a market capitalization of $1.16 billion, a P/E ratio of 5.41 and a beta of 0.47. 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's fifty day simple moving average is $6.98 and its 200 day simple moving average is $7.94. LexinFintech Holdings Ltd. Sponsored ADR has a one year low of $1.63 and a one year high of $11.64.

LexinFintech (NASDAQ:LX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $500.62 million.

LexinFintech Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $0.194 per share. This is a positive change from LexinFintech's previous semi-annual dividend of $0.11. This represents a dividend yield of 440.0%. The ex-dividend date of this dividend is Tuesday, August 26th. LexinFintech's payout ratio is currently 13.39%.

LexinFintech announced that its Board of Directors has initiated a stock repurchase plan on Monday, July 21st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded LexinFintech from a "buy" rating to a "hold" rating in a research note on Saturday.

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.