LexinFintech (NASDAQ:LX) Shares Gap Up to $3.45

LexinFintech Holdings Ltd. (NASDAQ:LX)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $3.45, but opened at $3.97. LexinFintech shares last traded at $3.94, with a volume of 12,469,139 shares changing hands.

LexinFintech Stock Performance

The firm has a fifty day simple moving average of $1.79 and a 200-day simple moving average of $1.78. The stock has a market cap of $558.04 million, a price-to-earnings ratio of 5.18 and a beta of 0.53. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.22.

LexinFintech (NASDAQ:LX) last issued its earnings results on Tuesday, August 27th. The company reported $0.19 earnings per share (EPS) for the quarter. The company had revenue of $500.98 million for the quarter. LexinFintech had a net margin of 5.80% and a return on equity of 8.16%.

LexinFintech Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 16th will be given a $0.072 dividend. This is a positive change from LexinFintech’s previous Semi-Annual dividend of $0.07. This represents a dividend yield of 6.9%. The ex-dividend date is Monday, September 16th. LexinFintech’s dividend payout ratio (DPR) is currently 15.79%.

Hedge Funds Weigh In On LexinFintech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. increased its stake in shares of LexinFintech by 38.7% in the 1st quarter. QRG Capital Management Inc. now owns 54,606 shares of the company’s stock valued at $98,000 after acquiring an additional 15,245 shares during the last quarter. Acadian Asset Management LLC increased its stake in LexinFintech by 16.3% in the first quarter. Acadian Asset Management LLC now owns 1,424,065 shares of the company’s stock valued at $2,555,000 after purchasing an additional 199,824 shares in the last quarter. Paloma Partners Management Co acquired a new stake in LexinFintech in the first quarter worth $30,000. Virtu Financial LLC acquired a new position in shares of LexinFintech in the 1st quarter valued at $149,000. Finally, Kathmere Capital Management LLC bought a new stake in shares of LexinFintech in the 2nd quarter valued at $36,000.

LexinFintech Company Profile

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.