LexinFintech (NASDAQ:LX) Shares Gap Down – Here’s Why

LexinFintech Holdings Ltd. (NASDAQ:LX) shares gapped down before the market opened on Wednesday . The stock had previously closed at $10.59, but opened at $9.85. LexinFintech shares last traded at $10.71, with a volume of 1,199,362 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Citigroup raised shares of LexinFintech from a “neutral” rating to a “buy” rating in a report on Tuesday, November 26th.

LexinFintech Trading Down 2.3 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market capitalization of $1.73 billion, a PE ratio of 16.70 and a beta of 0.60. The company’s fifty day simple moving average is $8.25 and its 200-day simple moving average is $5.36.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings results on Tuesday, March 18th. The company reported $0.28 earnings per share for the quarter. The firm had revenue of $501.26 million for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%.

LexinFintech Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 16th. Stockholders of record on Thursday, April 17th will be paid a $0.11 dividend. This is an increase from LexinFintech’s previous semi-annual dividend of $0.07. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, April 17th. LexinFintech’s dividend payout ratio (DPR) is currently 19.05%.

Hedge Funds Weigh In On LexinFintech

Hedge funds and other institutional investors have recently modified their holdings of the business. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in LexinFintech during the fourth quarter worth about $23,142,000. Arrowstreet Capital Limited Partnership increased its position in LexinFintech by 237.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,703,154 shares of the company’s stock worth $21,478,000 after purchasing an additional 2,606,969 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in LexinFintech during the fourth quarter worth about $7,687,000. Schonfeld Strategic Advisors LLC acquired a new stake in LexinFintech during the fourth quarter worth about $7,510,000. Finally, Barclays PLC acquired a new stake in LexinFintech during the fourth quarter worth about $7,131,000.

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.