LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) Short Interest Update

Key Points

• Short interest in LexinFintech Holdings Ltd. increased by 80.6% in July, reaching 6,500,000 shares, indicating heightened bearish sentiment among investors.
• Several hedge funds have significantly increased their positions in LexinFintech, with Nomura Holdings Inc. boosting its stake by 107.6% during the second quarter.
• LexinFintech plans to pay a semi-annual dividend of $0.194 on September 15th, marking an increase from the previous dividend of $0.11.

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Get Free Report) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 6,500,000 shares, agrowthof80.6% from the July 15th total of 3,600,000 shares. Based on an average trading volume of 3,140,000 shares, the short-interest ratio is currently 2.1 days. Approximately4.9% of the company's stock are short sold. Approximately4.9% of the company's stock are short sold. Based on an average trading volume of 3,140,000 shares, the short-interest ratio is currently 2.1 days.

Institutional Investors Weigh In On LexinFintech

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in LexinFintech by 115.9% during the 4th quarter. Bank of America Corp DE now owns 1,134,716 shares of the company's stock valued at $6,581,000 after acquiring an additional 609,233 shares during the period. BNP Paribas Financial Markets lifted its position in LexinFintech by 188,730.8% during the fourth quarter. BNP Paribas Financial Markets now owns 122,740 shares of the company's stock valued at $712,000 after purchasing an additional 122,675 shares during the period. BRIGHT VALLEY CAPITAL Ltd lifted its position in LexinFintech by 33.0% during the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 5,305,208 shares of the company's stock valued at $53,530,000 after purchasing an additional 1,315,208 shares during the period. Man Group plc purchased a new stake in LexinFintech in the fourth quarter worth approximately $549,000. Finally, Ritholtz Wealth Management bought a new stake in LexinFintech in the 1st quarter worth approximately $164,000.

LexinFintech Stock Up 2.9%

Shares of NASDAQ LX traded up $0.19 during midday trading on Friday, hitting $6.75. The stock had a trading volume of 2,976,290 shares, compared to its average volume of 4,427,933. The business's 50 day moving average is $6.86 and its 200-day moving average is $7.87. LexinFintech has a 52 week low of $1.63 and a 52 week high of $11.64. 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 company has a market cap of $1.14 billion, a P/E ratio of 5.32 and a beta of 0.47.

LexinFintech (NASDAQ:LX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.20. LexinFintech had a net margin of 11.50% and a return on equity of 14.67%. The company had revenue of $500.62 million during the quarter, compared to analyst estimates of $500.62 million.

LexinFintech announced that its board has approved a stock repurchase plan on Monday, July 21st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

LexinFintech Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $0.194 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This is an increase from LexinFintech's previous semi-annual dividend of $0.11. This represents a dividend yield of 440.0%. LexinFintech's dividend payout ratio is currently 14.17%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded LexinFintech from a "hold" rating to a "buy" rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, LexinFintech currently has a consensus rating of "Buy" and an average price target of $13.60.

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.