LexinFintech (NASDAQ:LX) Trading Down 4.5% - Here's Why

LexinFintech Holdings Ltd. (NASDAQ:LX - Get Free Report)'s share price was down 4.5% on Tuesday . The stock traded as low as $7.78 and last traded at $7.77. Approximately 675,810 shares traded hands during trading, a decline of 76% from the average daily volume of 2,870,829 shares. The stock had previously closed at $8.13.

Wall Street Analyst Weigh In

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

LexinFintech Trading Down 3.8 %

The firm's 50 day simple moving average is $8.79 and its two-hundred day simple moving average is $6.62. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.28 billion, a P/E ratio of 12.42 and a beta of 0.32.

LexinFintech (NASDAQ:LX - Get Free Report) last announced its quarterly earnings data on Tuesday, March 18th. The company reported $0.28 earnings per share for the quarter. The business had revenue of $501.26 million during the quarter. LexinFintech had a return on equity of 7.47% and a net margin of 5.34%.

LexinFintech Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, May 16th. Shareholders of record on Thursday, April 17th will be given a dividend of $0.11 per share. This is an increase from LexinFintech's previous semi-annual dividend of $0.07. The ex-dividend date of this dividend is Thursday, April 17th. This represents a yield of 1.2%. LexinFintech's dividend payout ratio (DPR) is presently 18.89%.

Hedge Funds Weigh In On LexinFintech

Hedge funds and other institutional investors have recently modified their holdings of the stock. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in shares of LexinFintech during the 4th quarter valued at about $23,142,000. Arrowstreet Capital Limited Partnership grew its position in LexinFintech by 237.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,703,154 shares of the company's stock worth $21,478,000 after acquiring an additional 2,606,969 shares in the last quarter. WT Asset Management Ltd purchased a new stake in shares of LexinFintech in the first quarter valued at $20,483,000. JPMorgan Chase & Co. bought a new position in shares of LexinFintech during the 4th quarter worth $7,687,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of LexinFintech in the 4th quarter valued at about $7,510,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.