LexinFintech (NASDAQ:LX) Raised to Buy at Wall Street Zen

Key Points

• LexinFintech has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, signaling improved investor confidence.
• The company's quarterly earnings reported $0.40 per share, exceeding the consensus estimate of $0.20.
• Significant institutional interest has been shown, with Vanguard Group and AllianceBernstein increasing their holdings notably in recent quarters.

LexinFintech (NASDAQ:LX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

LexinFintech Stock Down 0.1%

Shares of NASDAQ LX traded down $0.01 on Friday, hitting $6.25. The company had a trading volume of 459,116 shares, compared to its average volume of 3,515,862. LexinFintech has a 12-month low of $1.63 and a 12-month high of $11.64. The business has a 50 day moving average of $6.81 and a two-hundred day moving average of $7.83. The company has a quick ratio of 1.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.05 billion, a P/E ratio of 4.92 and a beta of 0.47.

LexinFintech (NASDAQ:LX - Get Free Report) last issued 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 return on equity of 14.67% and a net margin of 11.50%.The company had revenue of $500.62 million during the quarter, compared to the consensus estimate of $500.62 million.

LexinFintech declared that its board has approved a stock buyback program on Monday, July 21st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. BRIGHT VALLEY CAPITAL Ltd lifted its stake in shares of LexinFintech by 33.0% in the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 5,305,208 shares of the company's stock worth $53,530,000 after acquiring an additional 1,315,208 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of LexinFintech by 4.6% in the second quarter. Acadian Asset Management LLC now owns 4,884,131 shares of the company's stock worth $35,192,000 after acquiring an additional 214,800 shares in the last quarter. Vanguard Group Inc. acquired a new position in shares of LexinFintech in the first quarter worth about $44,048,000. Alliancebernstein L.P. raised its stake in LexinFintech by 4.1% during the second quarter. Alliancebernstein L.P. now owns 3,865,830 shares of the company's stock valued at $27,873,000 after buying an additional 150,511 shares in the last quarter. Finally, Man Group plc raised its stake in LexinFintech by 207.0% during the second quarter. Man Group plc now owns 3,419,971 shares of the company's stock valued at $24,658,000 after buying an additional 2,306,088 shares in the last quarter.

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.