LexinFintech Holdings Ltd. Sponsored ADR $LX Shares Acquired by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. increased its stake in LexinFintech Holdings by 437.7%, acquiring an additional 414,749 shares during the first quarter, resulting in a total of 509,512 shares owned.
• LexinFintech recently declared a semi-annual dividend of $0.194 per share, which is a significant increase from the previous $0.11 dividend, yielding approximately 440.0%.
• Despite the strong earnings report, Wall Street Zen downgraded LexinFintech's rating from "buy" to "hold", with analysts maintaining a consensus price target of $13.60.

Nomura Holdings Inc. increased its holdings in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) by 437.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 509,512 shares of the company's stock after purchasing an additional 414,749 shares during the quarter. Nomura Holdings Inc. owned 0.30% of LexinFintech worth $5,141,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LX. Vanguard Group Inc. purchased a new stake in shares of LexinFintech during the first quarter worth about $44,048,000. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in LexinFintech in the 4th quarter worth about $23,142,000. WT Asset Management Ltd acquired a new stake in LexinFintech in the 1st quarter worth about $20,483,000. MY.Alpha Management HK Advisors Ltd purchased a new stake in LexinFintech during the 1st quarter worth approximately $9,496,000. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of LexinFintech by 2,043.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 773,029 shares of the company's stock valued at $4,484,000 after acquiring an additional 736,957 shares during the last quarter.

LexinFintech Price Performance

Shares of NASDAQ:LX traded down $0.06 during midday trading on Thursday, hitting $6.00. The company had a trading volume of 2,137,549 shares, compared to its average volume of 3,416,692. LexinFintech Holdings Ltd. Sponsored ADR has a twelve month low of $1.63 and a twelve month high of $11.64. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 4.72 and a beta of 0.54. 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 simple moving average is $6.68 and its 200-day simple moving average is $7.75.

LexinFintech (NASDAQ:LX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.40 earnings per share (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 business had revenue of $500.62 million during the quarter, compared to the consensus estimate of $500.62 million.

LexinFintech Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, August 26th will be paid a $0.194 dividend. This is a positive change from LexinFintech's previous semi-annual dividend of $0.11. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a dividend yield of 440.0%. LexinFintech's dividend payout ratio is currently 24.41%.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut LexinFintech from a "buy" rating to a "hold" rating in a research report on Sunday. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target 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.