LexinFintech (NASDAQ:LX) Stock Price Up 7.8%

LexinFintech Holdings Ltd. (NASDAQ:LX)’s share price rose 7.8% on Wednesday . The company traded as high as $6.10 and last traded at $6.10. Approximately 11,132 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 2,147,296 shares. The stock had previously closed at $5.66.

LX has been the subject of a number of analyst reports. Morgan Stanley upgraded shares of LexinFintech from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $15.30 to $18.00 in a research report on Monday, June 14th. DBS Vickers downgraded shares of LexinFintech from a “buy” rating to a “hold” rating and set a $7.20 price objective for the company. in a research report on Thursday, August 26th. Zacks Investment Research downgraded shares of LexinFintech from a “hold” rating to a “sell” rating in a research report on Tuesday, September 14th. Finally, Citigroup decreased their price objective on shares of LexinFintech from $18.55 to $9.89 and set a “buy” rating for the company in a research report on Thursday, August 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.33.

The firm has a market cap of $1.11 billion, a PE ratio of 3.44, a PEG ratio of 0.44 and a beta of 0.85. The business’s 50 day moving average price is $7.37 and its 200 day moving average price is $9.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.53.

LexinFintech (NASDAQ:LX) last released its earnings results on Tuesday, August 24th. The company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $1.35. The business had revenue of $506.28 million during the quarter. LexinFintech had a net margin of 19.06% and a return on equity of 39.51%. As a group, analysts predict that LexinFintech Holdings Ltd. will post 2.15 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC grew its stake in LexinFintech by 2,469.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,081 shares of the company’s stock valued at $25,000 after acquiring an additional 2,000 shares in the last quarter. US Bancorp DE grew its stake in LexinFintech by 18.8% during the 1st quarter. US Bancorp DE now owns 8,351 shares of the company’s stock valued at $84,000 after acquiring an additional 1,321 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in LexinFintech by 433.2% during the 2nd quarter. Advisor Group Holdings Inc. now owns 8,398 shares of the company’s stock valued at $102,000 after acquiring an additional 6,823 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in LexinFintech during the 1st quarter valued at about $94,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in LexinFintech during the 2nd quarter valued at about $123,000. 25.74% of the stock is owned by institutional investors.

About LexinFintech (NASDAQ:LX)

Lexinfintech Holdings Ltd. engages in the provision of online consumer finance platforms. Through its subsidiaries, it provides online direct sales with installment payment terms; installment purchase loans; and personal installment loans. Its services are offered though its online consumer finance platform, www.fenqile.com; and mobile application.

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