Walleye Capital LLC Has $8.48 Million Stake in LexinFintech Holdings Ltd. Sponsored ADR $LX

Key Points

• Walleye Capital LLC reduced its stake in LexinFintech Holdings by 36.4%, selling 480,423 shares and retaining ownership of 840,785 shares, valued at approximately $8.48 million.
• Several institutional investors, including BRIGHT VALLEY CAPITAL and Vanguard Group, have recently increased their positions in LexinFintech, with total acquisitions exceeding $53 million.
• LexinFintech has received a "buy" rating upgrade from analysts, with a consensus target price of $13.60, and the company announced a substantial dividend increase to $0.194 per share.

Walleye Capital LLC trimmed its stake in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) by 36.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 840,785 shares of the company's stock after selling 480,423 shares during the period. Walleye Capital LLC owned about 0.50% of LexinFintech worth $8,484,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. BRIGHT VALLEY CAPITAL Ltd grew its position in LexinFintech by 33.0% in the first 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. acquired a new position in LexinFintech in the first quarter worth $44,048,000. WT Asset Management Ltd acquired a new position in LexinFintech in the first quarter worth $20,483,000. Dimensional Fund Advisors LP boosted its stake in LexinFintech by 21.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,793,751 shares of the company's stock worth $10,409,000 after purchasing an additional 315,243 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in LexinFintech in the fourth quarter worth $7,510,000.

LexinFintech Stock Performance

Shares of LX remained flat at $6.25 during trading hours on Thursday. The stock had a trading volume of 3,656,629 shares, compared to its average volume of 3,873,345. The company has a quick ratio of 1.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.11. 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 capitalization of $1.05 billion, a price-to-earnings ratio of 4.92 and a beta of 0.47. The firm has a fifty day simple moving average of $6.80 and a two-hundred day simple moving average of $7.82.

LexinFintech (NASDAQ:LX - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $500.62 million.

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

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 dividend of $0.194 per share. This represents a dividend yield of 440.0%. This is a boost from LexinFintech's previous semi-annual dividend of $0.11. The ex-dividend date of this dividend is Tuesday, August 26th. LexinFintech's payout ratio is currently 24.41%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised LexinFintech from a "hold" rating to a "buy" rating in a research note on Saturday, August 23rd. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $13.60.

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.