LexinFintech (NASDAQ:LX) Shares Gap Up - Here's Why

LexinFintech Holdings Ltd. (NASDAQ:LX - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $8.67, but opened at $8.95. LexinFintech shares last traded at $8.41, with a volume of 993,051 shares trading hands.

Analyst Ratings Changes

Separately, UBS Group set a $13.60 price target on LexinFintech and gave the stock a "buy" rating in a report on Friday, March 21st.

LexinFintech Stock Performance

The firm has a 50 day moving average of $8.60 and a two-hundred day moving average of $7.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market cap of $1.40 billion, a PE ratio of 13.28 and a beta of 0.46.

LexinFintech (NASDAQ:LX - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.33 earnings per share for the quarter. The company had revenue of $427.76 million for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%.

LexinFintech Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, May 16th. Investors of record on Thursday, April 17th were paid a dividend of $0.11 per share. This is a positive change from LexinFintech's previous semi-annual dividend of $0.07. This represents a yield of 1.2%. The ex-dividend date was Thursday, April 17th. LexinFintech's dividend payout ratio (DPR) is currently 18.89%.

Institutional Trading of LexinFintech

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BRIGHT VALLEY CAPITAL Ltd grew its stake in LexinFintech by 33.0% during the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 5,305,208 shares of the company's stock worth $53,530,000 after buying an additional 1,315,208 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of LexinFintech by 16.6% in the first quarter. Acadian Asset Management LLC now owns 4,669,331 shares of the company's stock valued at $47,092,000 after acquiring an additional 663,330 shares during the period. Vanguard Group Inc. acquired a new stake in shares of LexinFintech in the first quarter valued at approximately $44,048,000. Alliancebernstein L.P. grew its position in shares of LexinFintech by 1,862.9% during the first quarter. Alliancebernstein L.P. now owns 3,715,319 shares of the company's stock worth $37,488,000 after acquiring an additional 3,526,039 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of LexinFintech by 237.8% in the 4th 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 period.

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.

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