LexinFintech (NASDAQ:LX) Downgraded to Hold Rating by Wall Street Zen

LexinFintech (NASDAQ:LX) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

LexinFintech Trading Up 1.1%

Shares of NASDAQ LX opened at $6.32 on Friday. The firm’s 50 day moving average price is $6.77 and its 200-day moving average price is $7.79. The company has a market cap of $1.06 billion, a PE ratio of 4.98 and a beta of 0.54. LexinFintech has a 52-week low of $1.63 and a 52-week high of $11.64. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.88 and a current ratio of 1.89.

LexinFintech (NASDAQ:LX) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.20. LexinFintech had a net margin of 11.50% and a return on equity of 14.67%. The firm had revenue of $500.62 million during the quarter, compared to analysts’ expectations of $500.62 million.

LexinFintech announced that its Board of Directors has approved a share buyback plan on Monday, July 21st that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of LexinFintech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its stake in shares of LexinFintech by 350.5% in the second quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock worth $72,000 after purchasing an additional 7,756 shares in the last quarter. Aigen Investment Management LP purchased a new position in LexinFintech during the first quarter valued at $103,000. Janney Montgomery Scott LLC purchased a new position in shares of LexinFintech in the 2nd quarter worth $75,000. Ameriprise Financial Inc. purchased a new position in shares of LexinFintech in the 4th quarter worth $61,000. Finally, CreativeOne Wealth LLC purchased a new position in shares of LexinFintech in the 1st quarter worth $107,000.

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.