LexinFintech (NASDAQ:LX) Stock Price Down 5.1%

LexinFintech Holdings Ltd. (NASDAQ:LX)’s stock price fell 5.1% during mid-day trading on Friday . The company traded as low as $5.77 and last traded at $5.77. 1,798 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 2,138,432 shares. The stock had previously closed at $6.08.

LX has been the topic of a number of research reports. Citigroup cut their price target on LexinFintech from $18.55 to $9.89 and set a “buy” rating on the stock in a report on Thursday, August 26th. Zacks Investment Research lowered LexinFintech from a “hold” rating to a “sell” rating in a report on Tuesday, September 14th. DBS Vickers lowered LexinFintech from a “buy” rating to a “hold” rating and set a $7.20 target price on the stock. in a report on Thursday, August 26th. Finally, Morgan Stanley upgraded LexinFintech from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $15.30 to $18.00 in a report on Monday, June 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.33.

The firm has a 50-day moving average price of $7.29 and a 200 day moving average price of $9.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.53. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 3.30, a P/E/G ratio of 0.44 and a beta of 0.85.

LexinFintech (NASDAQ:LX) last posted its earnings results on Tuesday, August 24th. The company reported $4.08 EPS for the quarter, beating the consensus estimate of $2.73 by $1.35. The company had revenue of $506.28 million for the quarter. LexinFintech had a return on equity of 39.51% and a net margin of 19.06%. On average, equities analysts anticipate that LexinFintech Holdings Ltd. will post 2.15 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of LX. Oceanlink Management LTD. boosted its holdings in shares of LexinFintech by 51.6% in the 1st quarter. Oceanlink Management LTD. now owns 15,513,116 shares of the company’s stock valued at $156,062,000 after purchasing an additional 5,277,634 shares in the last quarter. Cederberg Capital Ltd acquired a new stake in shares of LexinFintech in the 1st quarter valued at $79,276,000. Vanguard Group Inc. boosted its holdings in shares of LexinFintech by 7.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,925,985 shares of the company’s stock valued at $48,094,000 after purchasing an additional 264,429 shares in the last quarter. FMR LLC boosted its holdings in shares of LexinFintech by 0.6% in the 1st quarter. FMR LLC now owns 3,805,887 shares of the company’s stock valued at $39,961,000 after purchasing an additional 23,831 shares in the last quarter. Finally, FIL Ltd boosted its holdings in shares of LexinFintech by 77.8% in the 1st quarter. FIL Ltd now owns 3,090,540 shares of the company’s stock valued at $31,090,000 after purchasing an additional 1,352,353 shares in the last quarter. 25.74% of the stock is currently owned by institutional investors and hedge funds.

About LexinFintech (NASDAQ:LX)

Lexinfintech Holdings Ltd. engages in the provision of online consumer finance platforms. Through its subsidiaries, it provides online direct sales with installment payment terms; installment purchase loans; and personal installment loans. Its services are offered though its online consumer finance platform, www.fenqile.com; and mobile application.

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