Bayforest Capital Ltd Grows Position in LexinFintech Holdings Ltd. Sponsored ADR $LX

Bayforest Capital Ltd increased its position in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) by 222.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 89,067 shares of the company’s stock after buying an additional 61,472 shares during the quarter. Bayforest Capital Ltd’s holdings in LexinFintech were worth $642,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in LX. Vanguard Group Inc. purchased a new position in LexinFintech during the 1st quarter worth approximately $44,048,000. Alliancebernstein L.P. grew its stake in 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 buying an additional 3,526,039 shares during the last quarter. WT Asset Management Ltd purchased a new position in LexinFintech during the 1st quarter worth approximately $20,483,000. BRIGHT VALLEY CAPITAL Ltd grew its stake in LexinFintech by 33.0% during the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 5,305,208 shares of the company’s stock worth $53,530,000 after buying an additional 1,315,208 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in LexinFintech by 201.9% during the 1st 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.

LexinFintech Trading Down 2.0%

Shares of LX stock opened at $4.95 on Wednesday. The business’s 50 day moving average is $5.94 and its two-hundred day moving average is $6.95. LexinFintech Holdings Ltd. Sponsored ADR has a twelve month low of $2.63 and a twelve month high of $11.64. The company has a market capitalization of $832.89 million, a P/E ratio of 3.90 and a beta of 0.45. The company has a current ratio of 1.89, a quick ratio of 1.88 and a debt-to-equity ratio of 0.11.

LexinFintech (NASDAQ:LX) last announced its earnings results on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $500.62 million.

LexinFintech announced that its board has authorized a share buyback plan 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. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

LexinFintech Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LX shares. Wall Street Zen upgraded LexinFintech from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of LexinFintech in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, LexinFintech currently has an average rating of “Moderate Buy” and a consensus price target of $13.60.

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.