OMERS ADMINISTRATION Corp Invests $1.44 Million in LexinFintech Holdings Ltd. Sponsored ADR $LX

Key Points

• OMERS ADMINISTRATION Corp invested approximately $1.44 million in LexinFintech Holdings by acquiring 142,400 shares, giving it a 0.08% ownership stake.
• LexinFintech recently increased its semi-annual dividend to $0.194 per share, up from the previous $0.11, showcasing strong financial performance.
• Investment ratings for LexinFintech have varied, with Wall Street Zen downgrading it from a "buy" to a "hold," with an average price target currently set at $13.60.

OMERS ADMINISTRATION Corp purchased a new position in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 142,400 shares of the company's stock, valued at approximately $1,437,000. OMERS ADMINISTRATION Corp owned about 0.08% of LexinFintech as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BRIGHT VALLEY CAPITAL Ltd raised its stake in LexinFintech by 33.0% in the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 5,305,208 shares of the company's stock valued at $53,530,000 after acquiring an additional 1,315,208 shares during the period. Vanguard Group Inc. bought a new stake in LexinFintech in the 1st quarter valued at about $44,048,000. WT Asset Management Ltd bought a new stake in LexinFintech in the 1st quarter valued at about $20,483,000. Dimensional Fund Advisors LP raised its stake in LexinFintech by 21.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,793,751 shares of the company's stock valued at $10,409,000 after acquiring an additional 315,243 shares during the period. Finally, Bank of America Corp DE raised its stake in LexinFintech by 115.9% in the 4th quarter. Bank of America Corp DE now owns 1,134,716 shares of the company's stock valued at $6,581,000 after acquiring an additional 609,233 shares during the period.

LexinFintech Price Performance

Shares of LX traded down $0.06 during midday trading on Thursday, hitting $6.00. 2,137,549 shares of the company traded hands, compared to its average volume of 3,519,525. The stock has a 50-day moving average of $6.71 and a 200-day moving average of $7.77. LexinFintech Holdings Ltd. Sponsored ADR has a one year low of $1.63 and a one year high of $11.64. The firm has a market cap of $1.01 billion, a P/E 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.

LexinFintech (NASDAQ:LX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.40 earnings per share 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 firm had revenue of $500.62 million for the quarter, compared to analysts' expectations of $500.62 million.

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

LexinFintech Increases Dividend

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

Analysts Set New Price Targets

Separately, Wall Street Zen cut LexinFintech from a "buy" rating to a "hold" rating in a research note on Sunday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "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.