Citigroup Upgrades LexinFintech (NASDAQ:LX) to “Buy”

LexinFintech (NASDAQ:LX) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Tuesday, Marketbeat reports.

LexinFintech Trading Up 14.8 %

Shares of LexinFintech stock opened at $4.90 on Tuesday. The company has a market capitalization of $804.24 million, a P/E ratio of 7.78 and a beta of 0.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.77 and a quick ratio of 1.77. LexinFintech has a 1 year low of $1.56 and a 1 year high of $5.07. The business has a 50 day moving average price of $3.14 and a 200 day moving average price of $2.23.

LexinFintech (NASDAQ:LX) last released its earnings results on Tuesday, August 27th. The company reported $0.19 EPS for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.62%. The firm had revenue of $500.98 million during the quarter.

Institutional Trading of LexinFintech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in shares of LexinFintech in the third quarter valued at approximately $74,000. Public Employees Retirement System of Ohio bought a new position in LexinFintech during the 3rd quarter valued at about $467,000. XTX Topco Ltd acquired a new stake in LexinFintech in the 3rd quarter valued at about $196,000. Jane Street Group LLC increased its position in LexinFintech by 32.9% in the 3rd quarter. Jane Street Group LLC now owns 266,547 shares of the company’s stock valued at $725,000 after acquiring an additional 65,964 shares in the last quarter. Finally, Wolverine Trading LLC acquired a new stake in LexinFintech in the 3rd quarter valued at about $29,000.

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.