Trexquant Investment LP Grows Stake in LexinFintech Holdings Ltd. Sponsored ADR $LX

Trexquant Investment LP grew its stake in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) by 331.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 423,159 shares of the company’s stock after buying an additional 325,039 shares during the period. Trexquant Investment LP’s holdings in LexinFintech were worth $4,270,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. purchased a new position in LexinFintech during the fourth quarter worth $61,000. Tower Research Capital LLC TRC increased its position in LexinFintech by 146.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company’s stock worth $71,000 after buying an additional 7,227 shares in the last quarter. Aigen Investment Management LP purchased a new position in LexinFintech during the first quarter worth $103,000. CreativeOne Wealth LLC purchased a new position in LexinFintech during the first quarter worth $107,000. Finally, Raymond James Financial Inc. purchased a new position in LexinFintech during the fourth quarter worth $157,000.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded LexinFintech from a “buy” rating to a “hold” rating in a research report on Sunday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, LexinFintech currently has an average rating of “Buy” and an average target price of $13.60.

LexinFintech Price Performance

LX stock opened at $6.32 on Tuesday. LexinFintech Holdings Ltd. Sponsored ADR has a 52-week low of $1.63 and a 52-week high of $11.64. The stock’s fifty day simple moving average is $6.77 and its 200-day simple moving average is $7.79. The company has a quick ratio of 1.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 4.98 and a beta of 0.54.

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

LexinFintech declared that its Board of Directors has authorized a share buyback plan on Monday, July 21st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

LexinFintech Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, August 26th will be issued a $0.194 dividend. The ex-dividend date is Tuesday, August 26th. This is an increase from LexinFintech’s previous semi-annual dividend of $0.11. This represents a yield of 440.0%. LexinFintech’s payout ratio is 24.41%.

About LexinFintech

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.