LexinFintech (NASDAQ:LX) Stock Price Down 4.3% – What’s Next?

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX)’s share price dropped 4.3% during mid-day trading on Friday . The stock traded as low as $5.52 and last traded at $5.42. Approximately 672,622 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 3,409,295 shares. The stock had previously closed at $5.66.

Analyst Upgrades and Downgrades

LX has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of LexinFintech in a research note on Saturday, September 27th. Wall Street Zen upgraded shares of LexinFintech from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, LexinFintech has a consensus rating of “Moderate Buy” and a consensus target price of $13.60.

LexinFintech Price Performance

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 stock’s 50 day simple moving average is $6.11 and its two-hundred day simple moving average is $7.23. The stock has a market cap of $881.68 million, a price-to-earnings ratio of 4.13 and a beta of 0.45.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings results 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 firm had revenue of $500.62 million for the quarter, compared to the consensus estimate of $500.62 million.

LexinFintech Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, August 26th were paid a $0.194 dividend. The ex-dividend date was Tuesday, August 26th. This represents a dividend yield of 440.0%. This is a boost from LexinFintech’s previous semi-annual dividend of $0.11. LexinFintech’s dividend payout ratio is presently 24.41%.

LexinFintech announced that its Board of Directors has approved a stock buyback plan on Monday, July 21st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On LexinFintech

Several institutional investors and hedge funds have recently made changes to their positions in LX. Ameriprise Financial Inc. acquired a new stake in shares of LexinFintech in the 4th quarter valued at $61,000. Tower Research Capital LLC TRC boosted its stake in shares of LexinFintech by 350.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock valued at $72,000 after purchasing an additional 7,756 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of LexinFintech in the 2nd quarter valued at $75,000. Ballentine Partners LLC acquired a new stake in shares of LexinFintech in the 2nd quarter valued at $86,000. Finally, Aigen Investment Management LP acquired a new stake in shares of LexinFintech in the 1st quarter valued at $103,000.

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.