Oasis Management Co Ltd. Buys Shares of 1,111,500 LexinFintech Holdings Ltd. Sponsored ADR $LX

Key Points

• Oasis Management bought a new position of 1,111,500 shares of LexinFintech (LX) in Q3, valued at about $5.92 million, making it the firm's 22nd-largest holding and representing roughly 0.66% ownership of the company.
• Analysts have trimmed their outlook on LX — notably UBS cut the rating to Neutral and lowered its target from $13.60 to $3.50 — leaving the consensus at an average "Hold" with a $3.50 target.
• Shares trade around $2.60 (near the 1-year low of $2.57) with a market cap of about $437.5 million and a low P/E of 1.83, signaling a materially depressed valuation versus prior levels.

Oasis Management Co Ltd. purchased a new position in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,111,500 shares of the company's stock, valued at approximately $5,924,000. LexinFintech comprises about 0.6% of Oasis Management Co Ltd.'s portfolio, making the stock its 22nd biggest position. Oasis Management Co Ltd. owned 0.66% of LexinFintech at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LX. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of LexinFintech by 65.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,818 shares of the company's stock worth $31,000 after purchasing an additional 2,296 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in LexinFintech by 350.5% during the second quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company's stock worth $72,000 after purchasing an additional 7,756 shares during the last quarter. Quantbot Technologies LP bought a new position in LexinFintech in the second quarter valued at $107,000. Tidal Investments LLC acquired a new stake in LexinFintech in the 2nd quarter valued at $115,000. Finally, Fox Run Management L.L.C. acquired a new stake in LexinFintech in the 2nd quarter valued at $124,000.

LexinFintech Price Performance

Shares of LX opened at $2.60 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. The company's fifty day simple moving average is $2.91 and its 200 day simple moving average is $3.99. LexinFintech Holdings Ltd. Sponsored ADR has a 1-year low of $2.57 and a 1-year high of $11.64. The company has a market cap of $437.48 million, a price-to-earnings ratio of 1.83 and a beta of 0.67.

Analyst Ratings Changes

LX has been the subject of a number of recent research reports. Weiss Ratings restated a "hold (c)" rating on shares of LexinFintech in a research note on Monday, December 29th. Wall Street Zen downgraded LexinFintech from a "buy" rating to a "hold" rating in a research report on Saturday, November 15th. Finally, UBS Group lowered LexinFintech from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $13.60 to $3.50 in a report on Thursday, December 4th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, LexinFintech has an average rating of "Hold" and an average target price of $3.50.

LexinFintech Company Profile

LexinFintech Holdings Ltd. NASDAQ: LX is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company's core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.

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