LexinFintech (NASDAQ:LX) had its target price cut by Bank of America from $21.00 to $18.00 in a report released on Monday morning. They currently have a buy rating on the stock.

LX has been the subject of several other reports. Zacks Investment Research lowered LexinFintech from a strong-buy rating to a hold rating in a report on Sunday, July 15th. Goldman Sachs Group lowered LexinFintech from a buy rating to a neutral rating in a report on Wednesday, June 13th.

LX stock opened at $12.01 on Monday. The company has a market capitalization of $1.94 billion and a PE ratio of 54.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.97 and a quick ratio of 0.96. LexinFintech has a 12-month low of $9.55 and a 12-month high of $20.00.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Krane Funds Advisors LLC purchased a new stake in shares of LexinFintech during the second quarter worth $4,783,000. All Stars Investment Ltd purchased a new stake in shares of LexinFintech during the first quarter worth $2,642,000. Bank of America Corp DE purchased a new stake in shares of LexinFintech during the second quarter worth $1,250,000. Champlain Investment Partners LLC purchased a new stake in shares of LexinFintech during the first quarter worth $1,211,000. Finally, Millennium Management LLC purchased a new stake in shares of LexinFintech during the fourth quarter worth $782,000. 6.92% of the stock is owned by institutional investors and hedge funds.

About LexinFintech

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, an online consumer finance platform that offers personal installment loans, installment purchase loans, and other loan products, as well as Le Card credit line.

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