LexinFintech (NASDAQ:LX) Trading Down 7.6%

LexinFintech Holdings Ltd – (NASDAQ:LX) shares traded down 7.6% during trading on Tuesday . The stock traded as low as $9.15 and last traded at $9.27, 1,485,255 shares were traded during mid-day trading. An increase of 55% from the average session volume of 957,420 shares. The stock had previously closed at $10.03.

Several equities research analysts have issued reports on the stock. Bank of America lifted their price target on shares of LexinFintech from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. ValuEngine lowered shares of LexinFintech from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. Finally, Zacks Investment Research upgraded shares of LexinFintech from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $16.15.

The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 5.79, a price-to-earnings-growth ratio of 0.42 and a beta of 1.97. The stock’s 50 day moving average is $10.60 and its 200 day moving average is $11.58.

LexinFintech (NASDAQ:LX) last announced its quarterly earnings results on Friday, August 30th. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $3.42 by ($2.92). LexinFintech had a net margin of 26.86% and a return on equity of 52.70%. The company had revenue of $969.60 million during the quarter. During the same quarter in the prior year, the business posted $1.39 EPS. The business’s revenue was up 53.8% compared to the same quarter last year. Sell-side analysts forecast that LexinFintech Holdings Ltd – will post 1.75 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of LX. TT International bought a new stake in shares of LexinFintech during the 1st quarter worth approximately $67,505,000. Bamco Inc. NY bought a new stake in shares of LexinFintech during the 2nd quarter worth approximately $22,876,000. Renaissance Technologies LLC lifted its holdings in shares of LexinFintech by 278.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,558,528 shares of the company’s stock worth $17,393,000 after acquiring an additional 1,146,514 shares during the period. GAM Holding AG bought a new stake in shares of LexinFintech during the 2nd quarter worth approximately $11,641,000. Finally, Bank of America Corp DE lifted its holdings in shares of LexinFintech by 842.2% during the 2nd quarter. Bank of America Corp DE now owns 1,106,935 shares of the company’s stock worth $12,354,000 after acquiring an additional 989,450 shares during the period. 21.09% of the stock is owned by hedge funds and other institutional investors.

About LexinFintech (NASDAQ:LX)

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young adults in the People's Republic of China. The company operates Fenqile.com, a retail and online consumer finance platform that offers installment purchase loans, personal installment loans, and other loan products, as well as provides online direct sales with installment payment terms.

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