LexinFintech (NASDAQ:LX) Cut to "Hold" at Wall Street Zen

Key Points

• LexinFintech was downgraded by Wall Street Zen from “buy” to “hold” in a note issued Saturday, adding to a softer analyst tone on the stock.
• Weiss Ratings also trimmed its view on the company, lowering LexinFintech from “hold (c)” to “hold (c-)”. Overall, MarketBeat shows a consensus Hold rating with a $3.50 target price.
• The stock traded up 1.4% to $1.48, near its 52-week low of $1.41 and well below its 52-week high of $7.17. The company has a market cap of about $247.9 million and relatively low debt, with a debt-to-equity ratio of 0.15.

LexinFintech (NASDAQ:LX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings lowered LexinFintech from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, LexinFintech presently has a consensus rating of "Hold" and a consensus target price of $3.50.

LexinFintech Stock Up 1.4%

LexinFintech stock opened at $1.48 on Friday. LexinFintech has a 1-year low of $1.41 and a 1-year high of $7.17. The firm has a market capitalization of $247.90 million, a price-to-earnings ratio of 1.29 and a beta of 0.82. The company has a current ratio of 2.03, a quick ratio of 2.02 and a debt-to-equity ratio of 0.15. The firm has a 50 day simple moving average of $1.92 and a 200 day simple moving average of $2.36.

Institutional Trading of LexinFintech

A number of hedge funds and other institutional investors have recently bought and sold shares of LX. Anatole Investment Management Ltd boosted its holdings in LexinFintech by 79.6% in the 4th quarter. Anatole Investment Management Ltd now owns 4,870,383 shares of the company's stock valued at $15,926,000 after purchasing an additional 2,159,246 shares during the period. Vanguard Group Inc. increased its holdings in shares of LexinFintech by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,642,573 shares of the company's stock worth $24,745,000 after purchasing an additional 94,490 shares during the period. Man Group plc increased its holdings in shares of LexinFintech by 28.2% in the third quarter. Man Group plc now owns 4,384,533 shares of the company's stock worth $23,370,000 after purchasing an additional 964,562 shares during the period. Alliancebernstein L.P. raised its position in shares of LexinFintech by 4.1% in the second quarter. Alliancebernstein L.P. now owns 3,865,830 shares of the company's stock worth $27,873,000 after buying an additional 150,511 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of LexinFintech by 320.4% in the third quarter. Bank of America Corp DE now owns 3,861,508 shares of the company's stock worth $20,582,000 after buying an additional 2,942,964 shares in the last quarter.

About LexinFintech

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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