LexinFintech (NASDAQ:LX) Shares Up 3.7% – Here’s Why

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) shot up 3.7% during trading on Wednesday . The stock traded as high as $10.89 and last traded at $10.98. 1,512,741 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 2,518,770 shares. The stock had previously closed at $10.58.

Analysts Set New Price Targets

Separately, UBS Group set a $13.60 price target on shares of LexinFintech and gave the company a “buy” rating in a report on Friday, March 21st.

LexinFintech Trading Down 2.8 %

The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 17.64 and a beta of 0.60. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average of $8.73 and a two-hundred day moving average of $5.67.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings data on Tuesday, March 18th. The company reported $0.28 earnings per share (EPS) for the quarter. The business had revenue of $501.26 million during 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. Shareholders of record on Thursday, April 17th will be given a $0.11 dividend. This is an increase from LexinFintech’s previous semi-annual dividend of $0.07. This represents a yield of 1.2%. The ex-dividend date is Thursday, April 17th. LexinFintech’s payout ratio is currently 24.44%.

Institutional Investors Weigh In On LexinFintech

Several hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new position in LexinFintech during the 4th quarter valued at $1,332,000. Public Employees Retirement System of Ohio bought a new position in shares of LexinFintech during the 3rd quarter worth about $467,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of LexinFintech during the fourth quarter valued at about $445,000. Y Intercept Hong Kong Ltd bought a new stake in shares of LexinFintech in the fourth quarter valued at about $363,000. Finally, Walleye Capital LLC grew its position in LexinFintech by 235.5% during the third quarter. Walleye Capital LLC now owns 726,588 shares of the company’s stock worth $1,976,000 after buying an additional 510,014 shares in the last quarter.

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.