LexinFintech (NASDAQ:LX) Stock Price Down 2.4% – Here’s What Happened

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX)’s stock price fell 2.4% on Thursday . The stock traded as low as $1.99 and last traded at $2.02. 1,345,234 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 1,507,881 shares. The stock had previously closed at $2.07.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of LexinFintech in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, LexinFintech has a consensus rating of “Hold” and an average price target of $3.50.

LexinFintech Trading Down 3.5%

The company’s 50 day moving average price is $2.29 and its two-hundred day moving average price is $2.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.89. The stock has a market capitalization of $326.63 million, a PE ratio of 1.49 and a beta of 0.83.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.10 earnings per share for the quarter. LexinFintech had a net margin of 12.72% and a return on equity of 14.36%. The firm had revenue of $434.95 million for the quarter.

LexinFintech Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Friday, April 24th will be paid a dividend of $0.188 per share. The ex-dividend date of this dividend is Friday, April 24th. This represents a yield of 1,757.0%. LexinFintech’s payout ratio is 22.90%.

Hedge Funds Weigh In On LexinFintech

Institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in LexinFintech by 65.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,818 shares of the company’s stock worth $31,000 after purchasing an additional 2,296 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in LexinFintech by 150.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,601 shares of the company’s stock worth $31,000 after purchasing an additional 5,773 shares during the period. 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 worth $72,000 after purchasing an additional 7,756 shares during the period. Hudson Bay Capital Management LP purchased a new position in LexinFintech during the third quarter worth about $60,000. Finally, Quantbot Technologies LP purchased a new position in LexinFintech during the second quarter worth about $107,000.

About LexinFintech

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.