WT Asset Management Ltd Purchases Shares of 2,030,028 LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX)

WT Asset Management Ltd acquired a new position in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,030,028 shares of the company's stock, valued at approximately $20,483,000. LexinFintech makes up approximately 2.4% of WT Asset Management Ltd's holdings, making the stock its 17th largest position. WT Asset Management Ltd owned approximately 1.24% of LexinFintech at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. BRIGHT VALLEY CAPITAL Ltd acquired a new position in shares of LexinFintech during the 4th quarter worth $23,142,000. Arrowstreet Capital Limited Partnership grew its position in LexinFintech by 237.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,703,154 shares of the company's stock valued at $21,478,000 after acquiring an additional 2,606,969 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in LexinFintech by 21.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,793,751 shares of the company's stock worth $10,409,000 after acquiring an additional 315,243 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of LexinFintech by 35.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,500,533 shares of the company's stock worth $8,703,000 after acquiring an additional 392,870 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of LexinFintech in the fourth quarter worth about $7,687,000.

Analyst Ratings Changes

LX has been the subject of a number of research analyst reports. UBS Group set a $13.60 price objective on shares of LexinFintech and gave the stock a "buy" rating in a research report on Friday, March 21st. Wall Street Zen cut shares of LexinFintech from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th.

LexinFintech Trading Up 4.4%

LexinFintech stock traded up $0.31 during trading hours on Friday, hitting $7.29. The stock had a trading volume of 2,005,536 shares, compared to its average volume of 3,179,816. The business's 50 day simple moving average is $7.71 and its 200-day simple moving average is $7.81. LexinFintech Holdings Ltd. Sponsored ADR has a one year low of $1.57 and a one year high of $11.64. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 6.88 and a beta of 0.41. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.12.

LexinFintech (NASDAQ:LX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.33 earnings per share (EPS) for the quarter. LexinFintech had a net margin of 9.44% and a return on equity of 12.52%. The business had revenue of $427.76 million during the quarter.

LexinFintech Company 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.