Wall Street Zen Downgrades LexinFintech (NASDAQ:LX) to Buy

LexinFintech (NASDAQ:LX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Friday.

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 Stock Down 2.1%

Shares of LX stock traded down $0.16 during mid-day trading on Friday, hitting $7.29. The company's stock had a trading volume of 904,614 shares, compared to its average volume of 3,149,755. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 6.88 and a beta of 0.43. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.85 and a current ratio of 1.85. LexinFintech has a 52-week low of $1.57 and a 52-week high of $11.64. The business has a 50-day moving average price of $7.74 and a 200 day moving average price of $7.77.

LexinFintech (NASDAQ:LX - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $0.33 earnings per share for the quarter. The business had revenue of $427.76 million during the quarter. LexinFintech had a return on equity of 12.52% and a net margin of 9.44%.

Institutional Trading of LexinFintech

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its holdings in LexinFintech by 16.6% in the 1st quarter. Acadian Asset Management LLC now owns 4,669,331 shares of the company's stock worth $47,092,000 after acquiring an additional 663,330 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in shares of LexinFintech during the 1st quarter valued at about $278,000. Caxton Associates LLP bought a new stake in shares of LexinFintech in the 1st quarter valued at approximately $518,000. Goldman Sachs Group Inc. lifted its position in LexinFintech by 201.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,482,060 shares of the company's stock worth $14,954,000 after buying an additional 991,075 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of LexinFintech by 1,862.9% during the 1st quarter. Alliancebernstein L.P. now owns 3,715,319 shares of the company's stock worth $37,488,000 after purchasing an additional 3,526,039 shares during the period.

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.