Mackenzie Financial Corp Sells 201,922 Shares of 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 lowered its position in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) by 85.4% during the 1st quarter, according to the company in 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 SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of LexinFintech during the first quarter valued at approximately $3,016,000. Allianz Asset Management GmbH purchased a new stake in shares of LexinFintech during the first quarter valued at approximately $4,455,000. Aviance Capital Partners LLC purchased a new stake in shares of LexinFintech during the first quarter valued at approximately $172,000. WT Asset Management Ltd purchased a new stake in shares of LexinFintech during the first quarter valued at approximately $20,483,000. Finally, D Orazio & Associates Inc. increased its position in shares of LexinFintech by 10.5% during the first quarter. D Orazio & Associates Inc. now owns 36,241 shares of the company's stock valued at $366,000 after acquiring an additional 3,440 shares during the last quarter.

LexinFintech Stock Performance

Shares of LexinFintech stock traded up $0.39 during trading hours on Monday, reaching $6.80. The company had a trading volume of 3,016,648 shares, compared to its average volume of 3,512,708. LexinFintech Holdings Ltd. Sponsored ADR has a one year low of $1.62 and a one year high of $11.64. The business has a fifty day simple moving average of $6.99 and a 200 day simple moving average of $7.96. 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 firm has a market cap of $1.14 billion, a PE ratio of 5.35 and a beta of 0.47.

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. LexinFintech had a return on equity of 14.67% and a net margin of 11.50%. The firm had revenue of $500.62 million during the quarter, compared to analyst estimates of $500.62 million.

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

Analyst Ratings Changes

Separately, Wall Street Zen lowered LexinFintech from a "buy" rating to a "hold" rating in a report 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.