X Financial (NYSE:XYF) Posts Earnings Results, Beats Expectations By $0.35 EPS

X Financial (NYSE:XYF) issued its quarterly earnings data on Monday. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.35, FiscalAI reports. X Financial had a return on equity of 14.38% and a net margin of 15.06%.The company had revenue of $146.24 million for the quarter, compared to analysts’ expectations of $190.63 million.

X Financial Price Performance

Shares of X Financial stock opened at $5.40 on Monday. The stock has a market cap of $211.06 million, a price-to-earnings ratio of 1.57 and a beta of 0.46. The firm’s 50-day moving average is $4.99 and its two-hundred day moving average is $4.85. X Financial has a 1 year low of $3.30 and a 1 year high of $16.40.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of X Financial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Hedge Funds Weigh In On X Financial

A number of large investors have recently made changes to their positions in XYF. Police & Firemen s Retirement System of New Jersey acquired a new position in X Financial during the 4th quarter valued at about $43,000. BNP Paribas Financial Markets purchased a new stake in X Financial in the 3rd quarter worth approximately $105,000. Russell Investments Group Ltd. boosted its stake in shares of X Financial by 468.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 33,780 shares of the company’s stock worth $457,000 after acquiring an additional 27,837 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in X Financial in the 2nd quarter worth $697,000. 1.15% of the stock is owned by institutional investors and hedge funds.

About X Financial

X Financial (NYSE:XYF) is a Beijing-based online credit marketplace focused on providing diversified financing solutions to individuals and small- and medium-sized enterprises (SMEs) in China. The company was established in 2014 and completed its initial public offering on the New York Stock Exchange in 2016. Since inception, X Financial has built a technology-driven platform that connects borrowers with a network of institutional investors, banks and other funding sources, aiming to streamline access to credit and improve lending efficiency.

The company’s core offerings include consumer loans, SME loans, real estate-secured financing and wealth management products.