LexinFintech (NASDAQ:LX) Shares Gap Down – Here’s Why

LexinFintech Holdings Ltd. (NASDAQ:LX)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $9.87, but opened at $8.62. LexinFintech shares last traded at $8.18, with a volume of 1,486,493 shares changing hands.

Analyst Upgrades and Downgrades

Separately, UBS Group set a $13.60 target price on LexinFintech and gave the stock a “buy” rating in a research report on Friday, March 21st.

LexinFintech Stock Down 16.8 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $1.35 billion, a PE ratio of 13.03 and a beta of 0.32. The firm’s 50-day simple moving average is $9.11 and its 200 day simple moving average is $6.05.

LexinFintech (NASDAQ:LX) last issued its earnings results on Tuesday, March 18th. The company reported $0.28 earnings per share for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%. The company had revenue of $501.26 million for the quarter.

LexinFintech Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 16th. Investors of record on Thursday, April 17th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, April 17th. This is a boost from LexinFintech’s previous semi-annual dividend of $0.07. This represents a yield of 1.2%. LexinFintech’s payout ratio is currently 18.89%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BRIGHT VALLEY CAPITAL Ltd purchased a new position in shares of LexinFintech during the 4th quarter worth approximately $23,142,000. Arrowstreet Capital Limited Partnership increased its position in LexinFintech by 237.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,703,154 shares of the company’s stock worth $21,478,000 after buying an additional 2,606,969 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of LexinFintech in the fourth quarter worth $7,687,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of LexinFintech in the fourth quarter valued at $7,510,000. Finally, Barclays PLC purchased a new stake in shares of LexinFintech in the fourth quarter valued at $7,131,000.

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.