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

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) gapped down before the market opened on Tuesday . The stock had previously closed at $11.06, but opened at $10.51. LexinFintech shares last traded at $10.68, with a volume of 1,024,350 shares traded.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded shares of LexinFintech from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 26th.

LexinFintech Stock Down 5.8 %

The stock has a market cap of $1.71 billion, a PE ratio of 16.53 and a beta of 0.60. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average of $8.46 and a 200 day moving average of $5.54.

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

LexinFintech Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, May 16th. Stockholders of record on Thursday, April 17th will be issued a $0.11 dividend. This is a boost from LexinFintech’s previous semi-annual dividend of $0.07. The ex-dividend date of this dividend is Thursday, April 17th. This represents a dividend yield of 1.2%. LexinFintech’s dividend payout ratio is presently 24.44%.

Institutional Investors Weigh In On LexinFintech

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BRIGHT VALLEY CAPITAL Ltd purchased a new position in LexinFintech during the 4th quarter worth $23,142,000. Arrowstreet Capital Limited Partnership grew 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 during the period. JPMorgan Chase & Co. purchased a new position in LexinFintech in the fourth quarter valued at about $7,687,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of LexinFintech during the 4th quarter valued at approximately $7,510,000. Finally, Barclays PLC purchased a new stake in shares of LexinFintech during the 4th quarter worth approximately $7,131,000.

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.