LexinFintech (NASDAQ:LX) Stock Price Down 8.3% – Here’s Why

LexinFintech Holdings Ltd. (NASDAQ:LX)’s share price dropped 8.3% during trading on Monday . The stock traded as low as $10.30 and last traded at $10.19. Approximately 1,670,912 shares changed hands during trading, a decline of 35% from the average daily volume of 2,581,035 shares. The stock had previously closed at $11.11.

Analysts Set New Price Targets

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

LexinFintech Stock Up 1.6 %

The firm has a 50-day moving average price of $8.96 and a two-hundred day moving average price of $5.92. 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 company has a market capitalization of $1.71 billion, a P/E ratio of 16.51 and a beta of 0.60.

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

LexinFintech Increases Dividend

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

Institutional Trading of LexinFintech

Several institutional investors and hedge funds have recently added to or reduced their stakes in LX. Mackenzie Financial Corp bought a new stake in shares of LexinFintech during the 4th quarter valued at $1,371,000. Public Employees Retirement System of Ohio grew its stake in shares of LexinFintech by 8.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 185,988 shares of the company’s stock worth $1,079,000 after purchasing an additional 14,227 shares during the period. Voloridge Investment Management LLC bought a new stake in LexinFintech in the fourth quarter valued at about $2,565,000. Squarepoint Ops LLC acquired a new position in LexinFintech in the fourth quarter valued at about $230,000. Finally, Point72 Asset Management L.P. bought a new position in LexinFintech during the fourth quarter worth about $1,053,000.

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.