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 report released on Saturday.
LexinFintech Stock Down 2.2%
LX traded down $0.14 on Friday, hitting $6.37. The company had a trading volume of 2,410,221 shares, compared to its average volume of 3,533,105. The stock has a fifty day simple moving average of $6.84 and a 200-day simple moving average of $7.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.89 and a quick ratio of 1.88. The firm has a market capitalization of $1.07 billion, a P/E ratio of 5.02 and a beta of 0.47. LexinFintech has a 52-week low of $1.63 and a 52-week high of $11.64.
LexinFintech (NASDAQ:LX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.20. The firm had revenue of $500.62 million during the quarter, compared to analyst estimates of $500.62 million. LexinFintech had a return on equity of 14.67% and a net margin of 11.50%.
LexinFintech announced that its board has authorized a share buyback program on Monday, July 21st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.
Institutional Investors Weigh In On LexinFintech
Several hedge funds have recently bought and sold shares of LX. Nomura Holdings Inc. increased its stake in shares of LexinFintech by 107.6% during the second quarter. Nomura Holdings Inc. now owns 1,057,883 shares of the company's stock valued at $7,627,000 after purchasing an additional 548,371 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in LexinFintech by 350.5% during the second quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company's stock valued at $72,000 after buying an additional 7,756 shares during the last quarter. Tidal Investments LLC purchased a new position in LexinFintech during the second quarter valued at $115,000. Man Group plc boosted its holdings in LexinFintech by 207.0% in the second quarter. Man Group plc now owns 3,419,971 shares of the company's stock worth $24,658,000 after acquiring an additional 2,306,088 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of LexinFintech by 70.4% in the second quarter. Lazard Asset Management LLC now owns 1,145,088 shares of the company's stock worth $8,256,000 after acquiring an additional 473,133 shares during the last quarter.
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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