LexinFintech (NASDAQ:LX) Shares Down 13.3% – What’s Next?

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) traded down 13.3% during mid-day trading on Tuesday . The stock traded as low as $2.90 and last traded at $3.20. 2,101,456 shares traded hands during mid-day trading, an increase of 70% from the average session volume of 1,232,847 shares. The stock had previously closed at $3.69.

LexinFintech Price Performance

The firm has a market capitalization of $533.42 million, a P/E ratio of 4.16 and a beta of 0.56. The firm has a 50-day moving average of $1.93 and a 200-day moving average of $1.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.77 and a current ratio of 1.77.

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

LexinFintech Increases Dividend

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

Hedge Funds Weigh In On LexinFintech

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of LexinFintech during the 3rd quarter valued at about $122,000. Kathmere Capital Management LLC bought a new position in LexinFintech during the second quarter valued at approximately $36,000. Renaissance Technologies LLC grew its holdings in LexinFintech by 5.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,021,700 shares of the company’s stock valued at $1,686,000 after buying an additional 55,700 shares in the last quarter. American Century Companies Inc. increased its stake in LexinFintech by 33.2% in the 2nd quarter. American Century Companies Inc. now owns 303,931 shares of the company’s stock worth $501,000 after acquiring an additional 75,759 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of LexinFintech during the 1st quarter worth approximately $149,000.

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.