LexinFintech (NASDAQ:LX) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of LexinFintech (NASDAQ:LX) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings downgraded LexinFintech from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.50.

LexinFintech Trading Up 1.4%

LexinFintech stock opened at $1.48 on Friday. The company’s fifty day simple moving average is $1.92 and its 200-day simple moving average is $2.36. The company has a quick ratio of 2.02, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. LexinFintech has a 12 month low of $1.41 and a 12 month high of $7.17. The stock has a market cap of $247.90 million, a P/E ratio of 1.29 and a beta of 0.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE increased its position in LexinFintech by 320.4% during the third quarter. Bank of America Corp DE now owns 3,861,508 shares of the company’s stock worth $20,582,000 after buying an additional 2,942,964 shares during the last quarter. Man Group plc lifted its position in shares of LexinFintech by 207.0% in the second quarter. Man Group plc now owns 3,419,971 shares of the company’s stock worth $24,658,000 after buying an additional 2,306,088 shares during the last quarter. Anatole Investment Management Ltd lifted its position in shares of LexinFintech by 79.6% in the fourth quarter. Anatole Investment Management Ltd now owns 4,870,383 shares of the company’s stock worth $15,926,000 after buying an additional 2,159,246 shares during the last quarter. UBS Group AG boosted its stake in shares of LexinFintech by 337.4% during the 3rd quarter. UBS Group AG now owns 2,563,047 shares of the company’s stock worth $13,661,000 after acquiring an additional 1,977,021 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of LexinFintech during the 3rd quarter worth about $7,373,000.

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.