LexinFintech (NASDAQ:LX) Rating Lowered to Hold at Wall Street Zen

Key Points

• LexinFintech (NASDAQ:LX) was downgraded from a "buy" to a "hold" rating by Wall Street Zen, following a report released over the weekend.
• The company's recent earnings report revealed an EPS of $0.40, exceeding analysts' estimates of $0.20, with revenue matching analyst expectations at $500.62 million.
• LexinFintech's stock is currently trading at $6.41, showing a slight decline of 0.3%, and it has a market cap of $1.08 billion.

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

LexinFintech Stock Down 0.8%

Shares of LX stock traded down $0.06 on Friday, reaching $6.84. 1,891,873 shares of the company were exchanged, compared to its average volume of 3,504,139. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 5.38 and a beta of 0.47. The company has a 50-day moving average of $6.98 and a 200-day moving average of $7.94. 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 has a one year low of $1.63 and a one year high of $11.64.

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 net margin of 11.50% and a return on equity of 14.67%. The business had revenue of $500.62 million for the quarter, compared to analysts' expectations of $500.62 million.

LexinFintech announced that its Board of Directors has initiated a stock buyback program on Monday, July 21st that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On LexinFintech

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. purchased a new position in LexinFintech in the 1st quarter valued at approximately $44,048,000. BRIGHT VALLEY CAPITAL Ltd purchased a new position in LexinFintech in the 4th quarter valued at approximately $23,142,000. Alliancebernstein L.P. grew its stake in LexinFintech by 1,862.9% in the 1st quarter. Alliancebernstein L.P. now owns 3,715,319 shares of the company's stock valued at $37,488,000 after buying an additional 3,526,039 shares in the last quarter. WT Asset Management Ltd purchased a new position in LexinFintech in the 1st quarter valued at approximately $20,483,000. Finally, JPMorgan Chase & Co. purchased a new position in LexinFintech in the 4th quarter valued at approximately $7,687,000.

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.