LexinFintech (NASDAQ:LX) Shares Gap Up - Still a Buy?

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.

Wall Street Analysts Forecast Growth

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

LexinFintech Stock Performance

The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.25 billion, a PE ratio of 11.79 and a beta of 0.46. The firm's fifty day moving average price is $8.43 and its 200 day moving average price is $7.33.

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

LexinFintech Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 16th. Stockholders 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. The ex-dividend date of this dividend was Thursday, April 17th. This represents a dividend yield of 1.2%. LexinFintech's dividend payout ratio is 16.04%.

Institutional Trading of LexinFintech

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. increased its holdings in shares of LexinFintech by 2.2% during the 1st quarter. Invesco Ltd. now owns 118,893 shares of the company's stock valued at $1,200,000 after acquiring an additional 2,616 shares during the last quarter. D Orazio & Associates Inc. boosted its position in LexinFintech by 10.5% during the first quarter. D Orazio & Associates Inc. now owns 36,241 shares of the company's stock worth $366,000 after purchasing an additional 3,440 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in LexinFintech by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 46,206 shares of the company's stock valued at $466,000 after purchasing an additional 4,639 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of LexinFintech by 146.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company's stock valued at $71,000 after purchasing an additional 7,227 shares during the period. Finally, QRG Capital Management Inc. raised its position in shares of LexinFintech by 24.1% in the fourth quarter. QRG Capital Management Inc. now owns 45,124 shares of the company's stock valued at $262,000 after purchasing an additional 8,752 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.