LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Get Free Report) was down 4.3% on Monday . The stock traded as low as $6.36 and last traded at $6.42. Approximately 612,617 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 3,506,998 shares. The stock had previously closed at $6.70.
Analyst Ratings Changes
Separately, Wall Street Zen raised LexinFintech from a "hold" rating to a "buy" rating in a research report on Saturday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $13.60.
Read Our Latest Report on LexinFintech
LexinFintech Stock Performance
The stock has a market cap of $1.14 billion, a PE ratio of 5.32 and a beta of 0.47. The firm's 50-day moving average is $6.86 and its 200 day moving average is $7.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.88 and a current ratio of 1.89.
LexinFintech (NASDAQ:LX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $500.62 million.
LexinFintech Increases Dividend
The company also recently declared a semi-annual dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $0.194 per share. This represents a dividend yield of 440.0%. This is a positive change from LexinFintech's previous semi-annual dividend of $0.11. The ex-dividend date is Tuesday, August 26th. LexinFintech's dividend payout ratio (DPR) is presently 14.17%.
LexinFintech declared that its Board of Directors has initiated a share repurchase program on Monday, July 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.
Institutional Trading of LexinFintech
Several hedge funds and other institutional investors have recently made changes to their positions in LX. Vanguard Group Inc. acquired a new stake in shares of LexinFintech in the first quarter valued at about $44,048,000. BRIGHT VALLEY CAPITAL Ltd acquired a new position in LexinFintech in the 4th quarter valued at about $23,142,000. Alliancebernstein L.P. raised 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 purchasing an additional 3,526,039 shares during the last quarter. Man Group plc boosted its stake in LexinFintech by 207.0% in the 2nd quarter. Man Group plc now owns 3,419,971 shares of the company's stock worth $24,658,000 after buying an additional 2,306,088 shares during the last quarter. Finally, WT Asset Management Ltd acquired a new stake in LexinFintech in the 1st quarter worth about $20,483,000.
About LexinFintech
(
Get Free Report)
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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